City of London has announced a pre-close update for FY’20. While the third quarter of the financial year was tough for markets, the final quarter saw a strong bounceback. FUM increased by 25% to $5.50bn. After a volatile year in both directions, the net movement over the year as a whole was a 2% rise, with net inflows offsetting weak markets. The Developed Markets strategy was the standout, with inflows equal to 76% of the FUM at the start of the year. The EM strategy continued to see slow but steady outflows, although there have been signs of improvement in the second half of the year.
21 Jul 2020
Market recovery boosts FUM
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Market recovery boosts FUM
City of London Investment Group PLC (CLIG:LON) | 318 -19.1 (-1.9%) | Mkt Cap: 160.9m
- Published:
21 Jul 2020 -
Author:
Brian Moretta -
Pages:
6
City of London has announced a pre-close update for FY’20. While the third quarter of the financial year was tough for markets, the final quarter saw a strong bounceback. FUM increased by 25% to $5.50bn. After a volatile year in both directions, the net movement over the year as a whole was a 2% rise, with net inflows offsetting weak markets. The Developed Markets strategy was the standout, with inflows equal to 76% of the FUM at the start of the year. The EM strategy continued to see slow but steady outflows, although there have been signs of improvement in the second half of the year.