InvestmentsOct 9 2017

City of London's FUM increase to £3.7bn

twitter-iconfacebook-iconlinkedin-iconmail-iconprint-icon
Search supported by
City of London's FUM increase to £3.7bn

Emerging market specialist City of London Group has seen its funds under management increase to £3.7bn as of the end of September despite several redemption requests.

The company’s funds under management have increased from £3.6bn as of the end of June.

In US dollar terms this represents an increase over the three-month period of 6 per cent, compared with the MSCI EM T/R index which rose by 8 per cent and the MSCI World T/R index which rose 5 per cent over the same period.

In an update to the London Stock Exchange the company stated: “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.”

The closed-end fund specialist has estimated that its post-tax profit for the first three months of the year will be approximately £2.5m compared to £2.3m in the same period last year.

damian.fantato@ft.com