Sharesmagazine
 Home   Log In   Register   Our Services   My Account   Contact   Help 
 Stockwatch   Level 2   Portfolio   Charts   Share Price   Awards   Market Scan   Videos   Broker Notes   Director Deals   Traders' Room 
 Funds   Trades   Terminal   Alerts   Heatmaps   News   Indices   Forward Diary   Forex Prices   Shares Magazine   Investors' Room 
 CFDs   Shares   SIPPs   ISAs   Forex   ETFs   Comparison Tables   Spread Betting 
You are NOT currently logged in
 
Register now or login to post to this thread.

CITY OF LONDON INVESTMENT GROUP (CLIG)     

BAYLIS - 20 Apr 2008 19:54

Chart.aspx?Provider=EODIntra&Code=CLIG&S

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.

Balerboy - 15 Apr 2013 20:12 - 80 of 300

I too sold half at 271p, am comfortable holding the rest as still in profit.,.

Stan - 17 Jun 2013 08:03 - 81 of 300

Trading Update http://www.moneyam.com/action/news/showArticle?id=4614829

Fred1new - 17 Jun 2013 09:20 - 82 of 300

Stan,

Thank you for reminding me of one of my better buys.

Is that a treble bottom with a time for a bounce.

The only good thing about the company has been its yield, so far.

Stan - 17 Jun 2013 10:10 - 83 of 300

Yes Fred, they seem firmly stuck in that 250's area don't they.

Excellent divi to compensate though as you say.

skinny - 09 Sep 2013 07:01 - 84 of 300

Final Results

SUMMARY

· Funds under management ("FuM") at 31st May 2013 were US$3.7 billion (2012: US$4.5 billion), a decline of 17%. In sterling terms, FuM fell by 16% to £2.4 billion (2012: £2.9 billion). The MSCI Emerging Markets Index ("MXEF") registered an 11% increase over the same period.

• We are now open to new investors, with a view to accepting up to US$500 million by 31st December 2014

· Revenues, representing the Group's management charges on FuM, were £29.4 million (2012: £34.1 million). Profit before tax was £8.9 million (2012: £11.5 million).

• Basic earnings per share were 24.9p (2012: 33.8p) after a tax charge of 29% (2012: 26%) of pre-tax profits.

• A maintained final dividend of 16p per share is recommended, payable on 25th October 2013 to shareholders on the register on 11th October 2013, making a total for the year of 24p (2012: 24p).

• Cash and cash equivalents at 31st May 2013 were £10.1 million (2012: £5.4 million).

Stan - 12 Sep 2013 14:00 - 85 of 300

Looks like Kabouter Management LLC have gone below 6% if I'm not mistaken http://www.moneyam.com/action/news/showArticle?id=4667220

skinny - 12 Sep 2013 15:10 - 86 of 300

You are not!

Stan - 12 Sep 2013 15:46 - 87 of 300

Danm it! I was hoping I was as a holder -);

Balerboy - 12 Sep 2013 20:47 - 88 of 300

div sounds good, glad i held on. Traded a few on the high and bought back in not long ago.

skinny - 13 Sep 2013 10:21 - 89 of 300

Kabouter Management LLC From > 5% to < 3%

skinny - 18 Sep 2013 15:29 - 90 of 300

Chart.aspx?Provider=EODIntra&Code=CLIG&S

Balerboy - 18 Sep 2013 21:13 - 91 of 300

in profit again, onwards and upwards.,.

skinny - 01 Oct 2013 14:22 - 92 of 300

Strong again today - ex dividend 9th October @16p.

Stan - 01 Oct 2013 14:24 - 93 of 300

Ah yes, that rather juicy divvy.. thanks for the reminder Skinny -):

skinny - 03 Oct 2013 12:03 - 94 of 300

Trying 270p.

Chart.aspx?Provider=EODIntra&Code=CLIG&S

skinny - 07 Oct 2013 07:12 - 95 of 300

Interim Management Statement

AGM Trading Update

City of London (LSE: CLIG), a leading emerging markets asset management group, provides an Interim Management Statement for the period 31st May 2013 to 30th September 2013. City of London's Annual General Meeting is being held today.



Funds under Management

As at 30th September 2013, FuM were US$3.4 billion (£2.1 billion). This compares to US$3.7 billion (£2.4 billion) at the Company's year-end on 31st May 2013. In US dollar terms, allowing for client withdrawals, this represents a fall of 8% against the MSCI Emerging Markets Index, which fell by 1% over the same period. With the September reopening of the core emerging markets strategy we are able to report the first major mandate win, with expected funding in the fourth quarter of 2013.



Operations

The Group's income accrues at a weighted average rate of approximately 92 basis points, net of commissions. Costs remain under control with "fixed" costs in line with budget at £0.8 million per month, and accordingly the current run-rate for operating profit, before profit-share at 30%, is approximately £0.8 million per month based upon current FuM and a US$/£ exchange rate of US$1.6 to £1. The Group estimates that post-tax profit for the first four months of the year will be approximately £1.6 million.

We continue to raise the profile of the diversification products with prospects and consultants. This includes the China A Share CEF strategy, where we are awaiting approval for our second tranche of US$100 million in Qualified Foreign Institutional Investor quota.

Dividends

The final dividend of 16 pence per share, subject to approval at today's AGM, will be paid on 25th October 2013, bringing the total dividend for the financial year 2012-13 to 24 pence. Encouraged by both recent marketing success and a recovery in emerging markets, the Board is hopeful that run-rate profits will be sufficient to maintain the dividend during the current year, although this is likely to require a continued relaxation of the Group's 1.5 x dividend cover policy.

Remuneration Policy

The Board is aware of understandable concerns by shareholders with regard to the firm's remuneration policy.

Firstly as regards the compensation payments paid to the former CEO and FD, these were made after very extensive consultation and negotiation and were, in the unanimous opinion of the Board, made in the best interests of the company and its shareholders. Regrettably the Compromise Agreements entered into prevent the disclosure of any further information in connection with those payments.

Secondly, as regards the firm's ESOP programme, the Board is again unanimous that it is in the best interests of CLIG. It should be noted that the shares issued are non-dilutive as they are purchased in the market, no new shares are issued, and, most importantly, our clients continue to emphasise the desirability of significant staff participation in the equity of CLIG.

Board composition

As previously announced, Barry Aling joined the Board on 1st August 2013. He has assumed the role of Audit Committee Chair. Allan Bufferd is the Senior Independent Director and Chairs the Remuneration Committee. Rian Dartnell is the Nominations Committee Chair.

Half year results for the six months to 30th November 2013 will be announced on 20th January 2014.

skinny - 08 Oct 2013 15:02 - 96 of 300

Ex dividend tomorrow - 16p.

skinny - 28 Nov 2013 12:41 - 97 of 300

Update on Monday.

Financial Calendar

skinny - 02 Dec 2013 07:41 - 98 of 300

Trading Update

FUNDS UNDER MANAGEMENT AS AT 30 NOVEMBER 2013, TRADING UPDATE


City of London (LSE: CLIG) announces that total funds under management (FuM) at the Group's half year end on 30 November 2013 were US$3.5 billion (£2.1 billion). This compares with US$3.9 billion (£2.4 billion) at 30 November 2012 and US$3.7 billion (£2.4 billion) at 31 May 2013.

As previously announced, FuM on 30 September 2013 were US$3.4 billion (£2.1 billion). FuM increased by 3% over the period, which was in line with the increase in the MSCI Emerging Markets Index (MXEF) from 987 to 1018 over the same period.

As of the end of November the monthly "run-rate" for operating profit, before profit-share of c. 30%, is approximately £0.8 million per month based upon current FuM. The Group estimates the unaudited profit before taxation for the six months ended 30 November 2013 to be approximately £3.3 million, which compares to £4.7 million for the equivalent period to 30 November 2012.

The Company is currently in a close period which will end with the publication of results for the six months ended 30 November 2013 on 20 January 2014.

-ends-

skinny - 04 Dec 2013 11:05 - 99 of 300

Canaccord Genuity Buy 242.00 245.00 333.00 333.00 Retains
Register now or login to post to this thread.