Hardman & Co Research
Hardman & Co Research: City of London Investment Group (CLIG): Market recovery
boosts FUM
21-Jul-2020 / 11:05 GMT/BST
Hardman & Co Research: Market recovery boosts FUM
City of London has announced a pre-close update for FY'20. While the third
quarter of the financial year was tough for markets, the final quarter saw a
strong bounceback. FUM increased by 25% to $5.50bn. After a volatile year in
both directions, the net movement over the year as a whole was a 2% rise, with
net inflows offsetting weak markets. The Developed Markets strategy was the
standout, with inflows equal to 76% of the FUM at the start of the year. The
EM strategy continued to see slow but steady outflows, although there have
been signs of improvement in the second half of the year.
https://www.hardmanandco.com/research/corporate-research/market-recovery-boost
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1098381 21-Jul-2020
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(END) Dow Jones Newswires
July 21, 2020 06:05 ET (10:05 GMT)
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