8th Oct 2015 07:09
LONDON (Alliance News) - City of London Investment Group PLC on Thursday said it is hopeful of adding a net USD250 million to its funds under management over the next six to nine months.
The emerging markets asset manager said the funds it manages amounted to USD3.6 billion at the end of September, a fall from the USD4.2 billion recorded at the end of June.
"Despite the recent market volatility, the board is encouraged by the diversity in the current pipeline of potential mandates, with circa USD750 million spread across EM [emerging market], Frontier, Developed and Tactical Asset Allocation asset classes," the company said in a statement.
Shares in City of London Investment Group were down 6.6% to 333.00 pence Thursday morning.
By Samuel Agini; [email protected]; @samuelagini
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