City of London Inv. Group has reported in line interim results (6m to Dec’17). The majority of key information was previewed in the HY Trading Update (17/1) and the statement this morning serves to confirm this. COO Tom Griffith has been appointed Deputy CEO with the intention of succeeding Barry Olliff as CEO upon his planned retirement at the end of 2019. We remain at HOLD on account of an absence of organic net inflows, but recognise the attractive 6.5%+ dividend yield as compensation for both this and exposure to higher risk EM assets