City of London Investment Group PLC Trading Update (3675U)
December 02 2013 - 2:00AM
UK Regulatory
TIDMCLIG
RNS Number : 3675U
City of London Investment Group PLC
02 December 2013
2 December 2013
CITY OF LONDON INVESTMENT GROUP PLC
("City of London", "the Group" or "the Company")
FUNDS UNDER MANAGEMENT AS AT 30 NOVEMBER 2013, TRADING
UPDATE
City of London (LSE: CLIG) announces that total funds under
management (FuM) at the Group's half year end on 30 November 2013
were US$3.5 billion (GBP2.1 billion). This compares with US$3.9
billion (GBP2.4 billion) at 30 November 2012 and US$3.7 billion
(GBP2.4 billion) at 31 May 2013.
As previously announced, FuM on 30 September 2013 were US$3.4
billion (GBP2.1 billion). FuM increased by 3% over the period,
which was in line with the increase in the MSCI Emerging Markets
Index (MXEF) from 987 to 1018 over the same period.
As of the end of November the monthly "run-rate" for operating
profit, before profit-share of c. 30%, is approximately GBP0.8
million per month based upon current FuM. The Group estimates the
unaudited profit before taxation for the six months ended 30
November 2013 to be approximately GBP3.3 million, which compares to
GBP4.7 million for the equivalent period to 30 November 2012.
The Company is currently in a close period which will end with
the publication of results for the six months ended 30 November
2013 on 20 January 2014.
-ends-
For further information, please visit www.citlon.co.uk or
contact:
Barry Olliff (CEO)
City of London Investment Group
PLC
Tel: 001 610 380 2911
Martin Green
Canaccord Genuity Limited
Financial Adviser & Broker
Tel: +44 (0)20 7523 8000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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