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IN BRIEF: City of London Investment Group reports drop in FuM

13th Oct 2023 15:03

City of London Investment Group PLC - specialist asset management group offering a range of institutional and retail products investing primarily in closed-end funds - Reports its funds under management as at September 30 were USD8.9 billion, down from USD9.4 billion as at June 30. Net investment outflows over the period to September 30 were USD152 million. Explains weaker market conditions and poor sentiment pushed closed-end fund discounts wider and was compounded by weak net asset value performances.

Current stock price: 336.00 pence, down 4.1%

12-month change: down 8.7%

By Heather Rydings, Alliance News senior economics reporter

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