Business
PRE-CLOSE TRADING UPDATE for year to 30 June 21
PRE-CLOSE TRADING UPDATE for year to 30 June 21.
About this update from City Of London Investment Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 9932E\n City of London Investment Group PLC\n 13 July 2021\n \n \n \n \n \n City of London Investment Group PLC\n \n \n 13 July 2021\n \n \n \n \n \n The information contained within this announcement is deemed by the Group to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain. \n \n \n \n \n \n CITY OF LONDON INVESTMENT GROUP PLC\n \n \n (\"City of London\" or \"the Group\" or \"the Company\" or \"CLIG\")\n \n \n \n \n \n PRE-CLOSE TRADING UPDATE for the year to 30 June 2021\n \n \n \n \n \n City of London (LSE: CLIG), a leading specialist asset management group offering a range of institutional and retail products investing primarily in closed-end funds (\"CEF\"), provides a pre-close trading update for its financial year ended 30 June 2021. The numbers that follow are unaudited. \n \n \n \n \n \n On a consolidated basis, Funds under Management (FuM) were US$11.4 billion (£8.3 billion) at 30 June 2021. This compares with US$5.5 billion (£4.4 billion) at the Group's year end on 30 June 2020, which was before the merger with Karpus Management Inc. (\"KIM\") on 1 October 2020 (the \"Completion Date\"). A breakdown by strategy follows:\n \n \n \n \n \n \n \n \n \n \n \n \n FuM ($ million)\n \n \n \n \n \n \n \n \n \n \n \n \n \n Strategy Index\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Jun-21\n \n \n \n \n Jun-20\n \n \n \n \n % \n \n \n \n \n \n \n \n Net\n \n \n \n \n \n \n \n \n \n \n \n \n \n % \n \n \n \n \n \n \n \n \n \n (estimate)\n \n \n \n \n \n \n \n inc/dec\n \n \n \n \n \n \n \n Flows\n \n \n \n \n \n \n \n \n \n \n \n \n \n inc/dec\n \n \n \n \n \n \n EM\n \n \n \n \n 5,393\n \n \n \n \n 3,828\n \n \n \n \n 41%\n \n \n \n \n \n \n \n (275)\n \n \n \n \n \n \n \n MSCI EM Net TR\n \n \n \n \n \n \n \n 40.9%\n \n \n \n \n \n \n KIM\n \n \n \n \n 3,919\n \n \n \n \n 3,578ᶺ\n \n \n \n \n 10%\n \n \n \n \n \n \n \n (213)\n \n \n \n \n \n \n \n Not applicable\n \n \n \n \n \n \n \n \n \n \n \n \n INTL\n \n \n \...