www.citlon.co.uk/

int ex 9/2. fin ex 27/11
City of London Investment Management Company Limited operates from four centers, London, Philadelphia (established 1995), Singapore (established 2000) and Dubai (established 2007), managing assets primarily for institutional investors.

In 2002 and 2003 the investment team started to delve deeper into the stages of country development from "developing" to "developed", especially China and India, and the implications thereof, namely, the rise in the consumption of natural resources.

In 2004, using our in-house equities team, we launched the Natural Resources strategy in order to capitalise on the growing demand for natural resources via a stock selection process.

In 2005, we extended our emerging markets expertise into the frontier markets by launching the Frontier Emerging Markets strategy.

In 2009, we applied our unrivaled knowledge of closed-end funds around the world to the development of a Global Closed-End Fund strategy, using the same investment process as in our Emerging Markets Closed-End Fund strategy.

In 2010, our equity team launched the Emerging Market Equity strategy which aims to achieve long term capital growth from investing in companies which derive the majority of their profits from the emerging economies. The strategy provides diversified global emerging markets exposure, although sector and country allocation will be actively managed and stock selection will reflect a strong thematic overlay.

D M. Cardale – Non-Executive Chairman
Barry. M. Olliff – Chief Executive Officer, Chief Investment Officer
Carlos. M. Yuste – Business Development Director
Tom. W. Griffith – Chief Operating Officer


In 2011, our equity team launched the Emerging Market Equity strategy which aims to achieve long term capital growth from investing in small capitalisation companies which derive the majority of their profits from the emerging economies. The strategy provides diversified global emerging markets exposure, although sector and country allocation will be actively managed and stock selection will reflect a strong thematic overlay.

FUNDS UNDER MANAGEMENT AS AT 31 DECEMBER 2016, TRADING UPDATE

ity of London (LSE: CLIG) announces that total funds under management (FuM) at the Group's half year end on 31 December 2016 were US$4.1 billion (£3.3 billion). This compares with US$4.0 billion (£3.0 billion) at the Company's year-end on 30 June 2016.

This rise in FuM of 2.5% compares with a gain of 4.5% in the MSCI Emerging Markets TR Index (NDUEEGF) over the six month period to 31 December 2016. Investment performance in the Emerging closed-end fund (CEF) strategy over the short term has been challenging. Our country allocation in 2016 was weak and this was compounded by poor net asset value (NAV) performances of the underlying CEFs. Discounts remain wide across the sector, with the current size-weighted average discount (SWAD) at c. 13%-14%, indicating significant value in the strategy.

With regards to business development, the Group continues to maintain an active pipeline across all of its major CEF offerings and has seen an increased interest in the diversification CEF strategies over the past 12 months. In total, the active pipeline is in excess of US$400 million, which includes opportunities that are spread across Emerging and Developed Markets, Global Tactical Asset Allocation, Tactical Income, and Frontier CEF strategies.

Operations
As of the end of December the monthly "run-rate" for operating profit, before profit-share of c.30%, is approximately £1.4 million per month based upon current FuM. The Group estimates the unaudited profit before taxation for the six months ended 31 December 2016 to be approximately £5.8 million, which compares with £3.6 million for the equivalent period to 31 December 2015.

The Company is currently in a close period which will end with the publication of results for the six months ended 31 December 2016 on 20 February 2017.

A jump up today.

Looks like the MMS playing silly buggers with the spread - 360/382p

CLIG often if not usually has a wide spread.

topped up

Financial and Chief operating Bods adding today.

Black Rock go below 10%.

Now they go above 10%.

Stan - looking at your link in post 241 - does it a correct link?

No just noticed it myself, a bobby balls up on my part I'll delete it.

Typical !!!!!!!!!!!!

Had enough of this harisment.. I'm off to the pub cheers );-

:-)

lol

Trading Update

INTERIM MANAGEMENT STATEMENT
QUARTERLY FUNDS UNDER MANAGEMENT ("FUM") UPDATE

City of London (LSE: CLIG), a leading emerging markets asset management group, provides a third quarter trading update for the period 1 January 2017 to 31 March 2017.

Funds under Management

As at 31 March 2017 FuM were US$4.4 billion (£3.5 billion), up approximately 8% from US$4.1 billion (£3.3 billion) at 31 December 2016. The MSCI Emerging Markets TR Index (NDUEEGF) in USD terms rose c11% over the same period.

Investment Performance

Investment Performance improved significantly during the quarter with over 90% of CLIM exposure outperforming relevant benchmarks YTD. The recent narrowing of our Size Weighted Average Discount has aided recent performance.

Business Development

With regards to business development, although the Group has seen net redemptions of cUS$140 million during the quarter, it continues to maintain an active pipeline across all of its major CEF offerings, in particular the diversification CEF strategies. The active pipeline is in excess of US$350 million.

Operations

The Group's income accrues at a weighted average rate of approximately 84 basis points, net of commissions and custody charges. "Fixed" costs are c£1.0 million per month, and accordingly the current run-rate for operating profit, before profit-share at 30%, is approximately £1.5 million per month based upon current FuM and a US$/£ exchange rate of US$1.25 to £1.

Dividends

The interim dividend of 8 pence per share was paid on 17 March 2017. The Board will announce the final dividend on Monday 17 July 2017 in its pre-close trading update.

-ends-

Slater go below 3% http://www.moneyam.com/action/news/showArticle?id=5553237http://www.moneyam.com/action/news/showArticle?id=5553237

Last of Bazzer's larger sell offs today.

http://www.moneyam.com/action/news/showArticle?id=5556061

Trading update switched to next Wednesday.

Trading Update

TRADING UPDATE
for the year to 30 June 2017

City of London (LSE: CLIG), a leading emerging markets asset management group, provides a trading update for it's financial year ended 30 June 2017. The numbers that follow are all unaudited.

Funds under management were US$4.7 billion (£3.6 billion) at 30 June 2017 (2016: US$4.0 billion or £3.0 billion), representing a 17% increase in US$ terms for the year. Over the same period, the MSCI Emerging Markets TR Net Index rose by 24% in US$ terms. Net asset flows for the year in Emerging Markets were negative c US$306 million (as clients rebalanced into the significant EM equity gains) while they were positive (c US$26 million) in the Diversification strategies. Net mandate wins of c US$125 million are confirmed for early in the new financial year.

Investment performance vs benchmarks for all asset classes was positive with the exception of Frontier which was marginally negative.

The Group's overhead for the year to 30 June 2017 is expected to be £11.9 million (2016: £10.7 million) and the current monthly run-rate is c £1.0m. A significant part of this increase is as a result of the fall in GBP vs US$.

For the year to 30 June 2017, the Group expects that pre-tax profits will be approximately £11.6 million (2016: £8.0 million), and that profits after an anticipated tax charge of £2.5 million (22% of pre-tax profits) will be approximately £9.1 million (2016: profits of £5.9 million after a tax charge of £2.1 million, representing 27% of pre-tax profit). The tax charge includes an estimated refund of £0.4 million relating to prior years' US state taxes, which if excluded would result in a Group tax rate of 25% of pre-tax profits. Basic and fully diluted earnings per share are expected to be 36.9p and 36.7p respectively (2016: 23.3p and 23.1p).

The Board is recommending an increased final dividend of 17p per share (2016: 16p). This would bring the total for the year to 25p (2016: 24p), for dividend cover of 1.46 times (2016: 0.96 times).

The Board confirms the final dividend timetable for the year to 30 June 2017:

· ex-dividend date: 12 October 2017
· dividend record date: 13 October 2017
· payable: 31 October 2017

City of London expects to announce final results alongside publication of its Accounts for the year to 30 June 2017 on 18 September 2017. The Group's Annual General Meeting will be held on 23 October 2017.


more....

A new 6 year high @415p.