DJ Hardman & Co Research: City of London Investment Group (CLIG): Boost from positive markets and deal completion
Hardman & Co Research
Hardman & Co Research: City of London Investment Group (CLIG): Boost from
positive markets and deal completion
13-Oct-2020 / 10:20 GMT/BST
Hardman & Co Research: Boost from positive markets and deal completion
City of London has announced a trading statement covering its first quarter
FUM and financial performance. With the Karpus merger taking place on 1
October, all figures refer to the pre-transaction entity. Markets were very
supportive over the quarter, with a smaller offset from net outflows. At the
quarter-end, FUM were $5.94bn, an increase of 8% on the $5.50bn at the
financial year-end. Fund performance was good in the main strategies, with
Frontier being the exception. It was also the source of the majority of the
outflows, as the largest client reallocated away from the sector.
Please click on the link below for the full report:
https://www.hardmanandco.com/research/corporate-research/boost-from-positive-m
arkets-and-deal-completion/ [1]
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1140551 13-Oct-2020
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(END) Dow Jones Newswires
October 13, 2020 05:20 ET (09:20 GMT)
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