Hardman & Co Research on City of London Investment Group (CLIG) 105 0 Kommentare Weak markets weigh on FUM

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City of London Investment Group (CLIG) reported weak markets in 1Q'24.
MSCI Emerging Markets index declined 2.9% and MSCI All-Country World ex US Index down 3.8%.
CLIG's group FUM declined 6% to $8.88bn, with net outflows and underperformance.

Hardman & Co Research
Hardman & Co Research on City of London Investment Group (CLIG): Weak markets weigh on FUM

17-Oct-2023 / 12:40 GMT/BST
The issuer is solely responsible for the content of this announcement.

Hardman & Co Research on City of London Investment Group (CLIG):

Weak markets weigh on FUM

City of London has announced its trading statement for 1Q’24. The main feature of the quarter was soft markets, with the MSCI Emerging Markets total return index declining 2.9% and the MSCI All-Country World ex US Index down 3.8%. Widening discounts also led to underperformance across the CLIM strategies and group FUM declined 6% to $8.88bn from $9.42bn. There were net outflows as well. The Emerging Markets strategy’s net outflow of $53m was in line with our forecast rate, while the International strategy also saw $71m of net outflows. KIM also experienced net withdrawals of $25m.

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1750907 17-Oct-2023