16 Jul 2021
It’s an all-time high
City of London has announced its final trading update for FY’21. The year has shown dramatic progress. The merger with Karpus has been complemented by strong markets, boosting FUM substantially. FUM finished the year at $11.45bn, a 26% increase from the $5.50bn CLIM had a year ago plus $3.58bn from Karpus when the merger took place in October. The benefits of strong markets have been offset by steady outflows from rebalancing and redemptions but boosted by outperformance across the strategies. The net result is the FUM increase is somewhat behind market movements.
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It’s an all-time high
City of London Investment Group PLC (CLIG:LON) | 315 -3.2 (-0.3%) | Mkt Cap: 159.6m
- Published:
16 Jul 2021 -
Author:
Brian Moretta -
Pages:
7
City of London has announced its final trading update for FY’21. The year has shown dramatic progress. The merger with Karpus has been complemented by strong markets, boosting FUM substantially. FUM finished the year at $11.45bn, a 26% increase from the $5.50bn CLIM had a year ago plus $3.58bn from Karpus when the merger took place in October. The benefits of strong markets have been offset by steady outflows from rebalancing and redemptions but boosted by outperformance across the strategies. The net result is the FUM increase is somewhat behind market movements.