Today’s 1Q trading update reveals very strong trading. Key points include: 9% rise in $AuM to $4.3m in 3 months (13.3% rise in £AuM); 1Q PAT ex unrealised gain on seed investments has risen to £2.2m (£1.4m);at an exchange rate of 1.24 the current run rate of "operating profit before profit share and tax" is c£1.5m/month. The statement reminds investors that "virtually all CLIM' income is USD based, fees are sourced from US institutions; over 90% is effectively de
