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.

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.

A share I bought at near its height Dec 2010l

The surprise is that dividends end me up in profit.

I hope it does as it promises.

But what possessed me to buy this share?

I've just checked - I bought @235.40 in 2013 - so I'm looking at a 75% gain +@40% in dividends - so I'm quite happy!

Fred you pointed this one out to me years a go and I am mighty grateful to you for doing so as it's proved quite a money spinner over the years as has Chesnara.

Skinny,

Are you rubbing salt into old wounds?

C'est la vie!

Fred - not at all - I think most on here have shares where the buying was 'mistimed'.

BTW, Did I mention that I hate FEVR :-)

I will sell you an antique chest of draws with a large bottom drawer.

I knew I shouldn't have bought it.

BLack Rock go above 10% http://www.moneyam.com/action/news/showArticle?id=5595535

Reported late at 6.22pm for some reason.

I wonder if they are taking them off of Barry.

Just seen this over the road :- Trust activist takes aim at Aberdeen’s US closed-end funds

Interesting Skinny..very interesting.

Final Results

SUMMARY


· Funds under management (FuM) at 30th June 2017 were US$4.7 billion (2016: US$4.0 billion), an increase of 17%. In sterling terms, FuM increased by 20% to £3.6 billion (2016: £3.0 billion). The MSCI Emerging Markets TR Net Index rose 24% in US$ terms over the same period.

· Revenues, representing the Group's management charges on FuM, were £31.3 million (2016: £24.4 million). Profit before tax was £11.6 million (2016: £8.0 million).

· Basic earnings per share were 36.9p (2016: 23.3p) after a tax charge of 21% (2016: 27%) of pre-tax profits.

· An increased final dividend of 17p per share is recommended, payable on 31st October 2017 to shareholders on the register on 13th October 2017, making a total for the year of 25p (2016: 24p)

Very creditable.

Black Rock adding http://www.moneyam.com/action/news/showArticle?id=5690091

AGM Trading Update

AGM Trading Update - 1st Quarter Funds under Management (FuM)

City of London (LSE: CLIG), a leading specialist asset management group focused on emerging markets and closed-end funds, announces that as at 30th September 2017, FuM were US$5.0 billion (£3.7 billion). This compares with US$4.7 billion (£3.6 billion) at the Company's year-end on 30th June 2017. In US dollar terms, this represents an increase over the 3 month period of 6% as compared with the MSCI EM T/R Index which rose by 8% and the MSCI World T/R index which rose 5% over the same period.

As a result of rebalancing, the Group continues to see some redemption requests but, by way of offset, it has a robust pipeline of potential business.


Operations

The Group's income currently accrues at a weighted average rate of approximately 84 basis points of FuM, net of third party commissions. "Fixed" costs are c. £1.0 million per month, and accordingly the current run-rate for operating profit, before profit-share of 30% and an estimated EIP charge of 2%, is approximately £1.6 million per month based upon current FuM and a US$/£ exchange rate of US$1.34 to £1 as at 30th September 2017.

The Group estimates that the post-tax profit for the first three months of the year will be approximately £2.5 million (2016: £2.3 million, after an unrealised profit on seed investments of £0.2 million).


Dividends

The final dividend of 17 pence per share, subject to approval at the AGM on 23rd October 2017, will be paid on 31st October 2017, bringing the total dividend for the financial year 2016-17 to 25 pence (2015-16: 24 pence).


Investor Afternoon

The Group will be hosting an investor afternoon at the London Stock Exchange on 23rd October 2017 from 2pm for investors, analysts and any other interested parties. For further details and to register, please email: investorrelations@citlon.co.uk

Bazzer sells his already disclosed amount http://www.moneyam.com/action/news/showArticle?id=5700406moneyam.com/action/news/showArticle?id=5700406