City of London Investment Group (CLIG) Fighting the market invasion
City of London has announced its trading update for 3Q’22. It has been a tough quarter, with the Russia/Ukraine conflict leading to weakness in markets, albeit they have partially recovered from their initial reaction. Overall, FUM fell from $11.1bn at the end of 2021 to $10.3bn at the quarter-end, a decline of 8%. This compares with declines in the MSCI Emerging Markets total return Index of 7.0% and the MSCI All Country World ex US Index of 5.4%. CLIM saw net inflows across all the strategies, but also underperformance in each of them. KIM experienced small outflows, but positive relative performance.City of London Investment Group is the holding company for a number of subsidiaries. The principal operating subsidiary is City of London Investment Management Company Limited, which acts as an investment manager on 38 accounts with a total of £3.58 billion under management as at June 30 2017. Co. is an asset management group with an institutional client focus specializing in Emerging Market closed-end fund investments. Co.'s range also include Developed, Frontier and Global Tactical Asset Allocation closed-end fund strategies.
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