16th Sep 2025 13:22
(Alliance News) - City of London Investment Group PLC on Tuesday maintained its dividend as it reported profit growth as funds under management increased.
The London-based firm, whose products invest primarily in closed-end funds, said pretax profit jumped 15% to USD26.0 million in the 12 months to the end of June from USD22.6 million a year ago.
Net fee income rose 5.4% to USD69.8 million from USD66.2 million.
Funds under management totalled USD10.81 billion at the end of June, up 5.6% from USD10.24 billion a year ago.
The company estimated funds under management on September 11 was 2.8% higher than the end of June at USD11.1 billion.
"Over the past year, your team successfully capitalised on market opportunities by staying true to its team-based approach and disciplined investment process. These efforts resulted in a period of strong performance for our clients. Success generates its own momentum and with the board's commitment to empowering and supporting employees, we are laying the groundwork to propel CLIG to the next phase of success," said Chair Rian Dartnell.
The company maintained its final dividend at 22 pence per share, meaning the total annual payout was also flat at 33p.
Looking ahead, Chair Dartnell said: "Interest in markets outside the US returned in force in 2025 and seems set to continue as investors seek out relative value given large segments of the US market appear stretched. This should serve the group extremely well as Emerging Markets (USD3.7 billion) and International (USD2.5 billion) remain our largest areas and make up over 57% of client assets.
"It is heartening to observe client wins and new flows into our strategies, but disappointing to see net outflows, particularly in the first half of the financial year. We are focused on client retention and more optimistic that our healthy pipeline will improve flows."
Shares in City of London Investment Group were down 0.3% at 499.50p in London on Tuesday.
By Michael Hennessey, Alliance News reporter
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