DJ Hardman & Co Research | City of London Investment Group (CLIG): Positive markets offset by revenue margins
Hardman & Co Research Hardman & Co Research | City of London Investment Group (CLIG): Positive markets offset by revenue margins 28-Apr-2023 / 10:05 GMT/BST The issuer is solely responsible for the content of this announcement.
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Hardman & Co Research on City of London Investment Group (CLIG):
Positive markets offset by revenue margins
City of London has announced its trading update results for 3Q'23. The headline figures are positive, with FUM increasing 3%, from USD9.15bn at December 2022 to USD9.47bn at the quarter-end. This was underpinned by good market performance: the MSCI Emerging Markets TR Index increased by 4.0% and the MSCI All Country World Index ex US rose by 6.9%. These were slightly offset at CLIM by some net outflows. Weak sentiment towards the end of the quarter led to widening discounts in closed-ended funds, and, as a consequence, there was some slight underperformance across the strategies.
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1620427 28-Apr-2023
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(END) Dow Jones Newswires
April 28, 2023 05:05 ET (09:05 GMT)
