Hardman & Co Research
Hardman & Co Research: City of London Investment Group (CLIG): Karpus
transaction looks a winner
09-Jun-2020 / 09:15 GMT/BST
Hardman & Co Research: Karpus transaction looks a winner
City of London has announced a merger with Karpus Management Inc, a US
SEC-registered investment adviser. Based in upstate New York, it is focused on
wealth management for HNW individuals and, as of end-March, it had FUM of
$3.22bn. Like City of London, it primarily invests through funds. Its primary
focus is closed-end funds (CEFs) but it also uses mutual funds, ETFs and other
vehicles. With a range of balanced mandates, on an underlying basis, 39% of
assets are equities, predominantly in the US, and 61% fixed income. City of
London will be significantly diversifying its exposure by asset class and
client type.Please click on the link below for the full report:
https://www.hardmanandco.com/research/corporate-research/karpus-transaction-lo
oks-a-winner/ [1]
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1065773 09-Jun-2020
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(END) Dow Jones Newswires
June 09, 2020 04:15 ET (08:15 GMT)
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