19th Oct 2015 07:27
LONDON (Alliance News) - City of London Investment Group PLC, an emerging markets asset manager, said on Monday that funds under management increased in the first two weeks of October.
In a statement, the emerging markets asset manager said that assets under management amounted to USD3.93 billion on October 15, up from the USD3.60 billion recorded on September 30.
City of London Investment Group said it has been encouraged by the "diversity" in its current pipeline of potential mandates, with about USD750 million spread across a number of asset classes.
The company reiterated that it is hopeful of "at least" a net USD250 million of additional funds under management over the next six to nine months.
"Confirmed new mandate wins stand at USD75 million as at October 15," City of London Investment Group said.
The update comes as company holds its annual meeting of shareholders on Monday.
Shares in City Of London Investment Group were untraded at 323.68 pence on Monday morning.
By Samuel Agini; [email protected]; @samuelagini
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