City of London Investment Group (CLIG): Perky markets support dividend hike
City of London has announced a trading update for 2Q’20. At the end of December, FUM had grown to $6.01bn, a 13% increase over the September 2019 figure of $5.34bn. This was driven by healthy market growth and more inflows into the Developed World strategy. A rebound in the exchange rate means a smaller increase in FUM of 5% in sterling terms. The highlight for many investors will be in the increase in the interim dividend of 1p to 10p. While nothing has been said about the full-year dividend, increasing that at the same rate would still leave the five-year rolling dividend cover, on our estimates, above the 1.2x target.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.
We are a rapidly growing, innovative corporate research & consultancy business, based in London, serving the needs of both public and private companies.
Our expert team of sector analysts and market professionals collectively have over 400 years of experience. This depth of knowledge and a reputation for integrity have built trust with investors. With effective communication and precision distribution, we help companies disseminate their investment message to interested investors, as well as advise them on strategy.
Our smaller, boutique structure allows us to provide first-class customer service and to deliver a wide range of ad-hoc services for multiple clients with different needs.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.