Hardman & Co Research:

City of London Investment Group (CLIG): Robust profits in tough markets

City of London has announced its trading update for the final quarter of FY’22. It has been another tough quarter for fund managers, with global markets suffering significant setbacks. CLIM’s two main benchmarks, the MSCI Emerging Markets Net TR Index and the MSCI All Country World Index ex US, declined 11% and 14%, respectively. Against that, it is no surprise that City of London’s total FUM declined from $10.26bn to $9.22bn. This was helped by another quarter of net inflows, with the International strategy adding $183m of net new assets. Against that was underperformance in most of CLIM’s strategies.

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About Hardman & Co: Hardman Research Ltd, trading as Hardman & Co, is an appointed representative of Capital Markets Strategy Ltd and is authorised and regulated by the Financial Conduct Authority; our FCA registration number is 600843. Hardman Research Ltd is registered at Companies House with number 8256259. Attention is drawn to the important disclaimers at the end of the report.