Trading Update

RNS Number : 3675U

City of London Investment Group PLC

02 December 2013

 



2 December 2013                                                                                                                

 

CITY OF LONDON INVESTMENT GROUP PLC

("City of London", "the Group" or "the Company")

 

FUNDS UNDER MANAGEMENT AS AT 30 NOVEMBER 2013, TRADING UPDATE

City of London (LSE: CLIG) announces that total funds under management (FuM) at the Group's half year end on 30 November 2013 were US$3.5 billion (£2.1 billion). This compares with US$3.9 billion (£2.4 billion) at 30 November 2012 and US$3.7 billion (£2.4 billion) at 31 May 2013. 

As previously announced, FuM on 30 September 2013 were US$3.4 billion (£2.1 billion). FuM increased by 3% over the period, which was in line with the increase in the MSCI Emerging Markets Index (MXEF) from 987 to 1018 over the same period.

As of the end of November the monthly "run-rate" for operating profit, before profit-share of c. 30%, is approximately £0.8 million per month based upon current FuM. The Group estimates the unaudited profit before taxation for the six months ended 30 November 2013 to be approximately £3.3 million, which compares to £4.7 million for the equivalent period to 30 November 2012.

The Company is currently in a close period which will end with the publication of results for the six months ended 30 November 2013 on 20 January 2014.

 

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For further information, please visit www.citlon.co.uk or contact:

Barry Olliff (CEO)
City of London Investment Group PLC
Tel: [phone]
Martin Green
Canaccord Genuity Limited
Financial Adviser & Broker
Tel: [phone]

 

END

 

 

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