Business
SIX MONTHS TO 31 DECEMBER 2024 TRADING UPDATE
SIX MONTHS TO 31 DECEMBER 2024 TRADING UPDATE.
About this update from City Of London Investment Group Plc
[{"type":"text","content":"\n\nCity of London Investment Group PLC\n20 January 2025\n \n CITY OF LONDON INVESTMENT GROUP PLC\n(\"City of London\" or \"the Group\" or \"the Company\" or \"CLIG\")\nSIX MONTHS TO 31 DECEMBER 2024 TRADING UPDATE\n \nCity of London (LSE: CLIG), a leading specialist asset management group offering a range of institutional and retail products investing primarily in closed-end funds, provides a trading update for its six months ended 31 December 2024. The numbers that follow are unaudited.\n \nFunds under Management (FuM) were $9.9 billion at 31 December 2024, a decrease of 2.9% as compared to $10.2 billion at 30 June 2024. A breakdown by strategy follows:\n \n\n\n\n\n \n\n\n \n\n\nFuM ($ million)\n\n\n \n\n\n\n\n \n\n\n \n\n\nJun-24\nActual\n\n\nNet flows\n\n\nMarket & investment performance\n\n\nDec-24\n(estimate)\n \n\n\n \n\n\n\n\nEM\n\n\n \n\n\n 3,568\n\n\n(157)\n\n\n60\n\n\n3,471\n\n\n \n\n\n\n\nKIM\n\n\n \n\n\n 3,924\n\n\n(138)\n\n\n160\n\n\n3,947\n\n\n \n\n\n\n\nINTL\n\n\n \n\n\n 2,394\n\n\n(332)\n\n\n30\n\n\n2,091\n\n\n \n\n\n\n\nOV\n\n\n \n\n\n 251\n\n\n23\n\n\n12\n\n\n286\n\n\n \n\n\n\n\nOther*\n\n\n \n\n\n 104\n\n\n40\n\n\n7\n\n\n151\n\n\n \n\n\n\n\n \n\n\n \n\n\n10,241\n\n\n(564)\n\n\n269\n\n\n9,946\n\n\n \n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\n* Includes Frontier and alternatives\n \nIM Performance\n \nInvestment performance for the rolling six months ending 31 December 2024 and calendar year 2024 were both ahead of benchmarks for the majority of CLIM & KIM core strategies. Strategy returns were in the first or second quartile vs peers over the same periods.\n \nFlows\n \nStrong market returns over the six months led to client rebalancing, asset allocation changes, and included a large client drawing down cash management capital for acquisitions. Net investment outflows were $564 million for the Group over the period, led by EM, International Equity and KIM strategies, while OV and alternatives had net infl...