Business
Proposed Fund Launch
Proposed Fund Launch.
About this update from City Of London Investment Group Plc
[{"type":"text","content":"\n RNS Number : 9417Q City of London Investment Group PLC 22 April 2009 \n \n22 April 2009\nCITY OF LONDON INVESTMENT GROUP PLC\n('City of London' or 'the Company')\n \nEQUITIES TEAM STRENGTHENED WITH ADDITION OF SALLY MACDONALD\nPLANNED LAUNCH OF NEW EMERGING ASIA, EX-JAPAN, FUND\n\nCity of London Investment Group PLC (AIM: CLIG), a leading emerging market asset management group, announces that its operating subsidiary, City of London Investment Management Limited ('CLIM'), has strengthened its equities team with the addition of Sally Macdonald. Sally most recently launched and ran the Melchior Pan-Asian Advantage Fund at Dalton Strategic Partnership LLP. Prior to this she was at Morley Fund Management, responsible for the Asian equity team which managed over US$6 billion of assets. Previous assignments include Canada Life (where, after over six years there, Sally was nominated for Citywire Asian Fund Manager of the Year for 2003) and Lazard Asset Management. Sally's career spans in excess of twenty years, of which seventeen have been focused on Asian equities. \n\nCLIM is taking advantage of the present downturn in markets worldwide to recruit experienced people and as a result of Sally's arrival will launch a new fund focused on the Emerging Asia ex Japan region on 1st July. The new fund, which will be called Asia Value & Growth, will form a new sub fund of The World Markets Umbrella Fund (WMUF), a Dublin listed open ended investment company, and Sally will be the designated fund manager. \n\nCLIM is a leading manager in emerging markets equities using closed end funds. The firm has also had a long term commitment to Emerging Market direct equities and the launch of Asia Value & Growth is an important development in this strategy. After a record has been developed (in two or three years) it would be the intention to market an equivalent Asia Value & Growth product to the Company's existing and potential institutional North American investors.\n\nBarry Olliff, City of London's CEO and CLIM's Chief Investment Officer commented ''We are pleased to have hired such an experienced and talented fund manager as Sally Macdonald to manage Asia Value & Growth; she is an important addition to our well established equities team run by Martin Garzaron. We believe that there are exciting opport...