Hardman & Co Research: City of London Investment Group (CLIG): Solid FUM update offset by margin changes

Hardman & Co Research: Solid FUM update offset by margin changes

City of London has released its trading update for 2Q of FY'19. In this period, market weakness dominated movements in FUM: the 7% fall in the MSCI Emerging Markets Index was trumped by a 13% fall in the MSCI ACWI. Fund flows, in contrast, had a quieter quarter, with a net $15m of inflows to the Opportunistic Value strategies offset by net outflows of $62m from Emerging Markets. City of London has indicated that there may be some positive rebalancing, with $125m of net inflows expected to be funded over the next quarter. The MSCI Emerging Markets is up 4% so far in 2019, suggesting an improvement since the year-end.

Please click here for the full report:

https://www.hardmanandco.com/research/corporate-research/solid-fum-update-offset-by-margin-changes-2/

Hardman & Co Research can still be accessed for free after MiFID II. Please click here to read the statement.

About Hardman & Co: For the past 21 years Hardman has been producing specialist research designed to improve investors' understanding of companies, sectors, industries and investment securities. Our analysts are highly experienced in their sectors, and have often been highly rated by professional investors for their knowledge. Our focus is to raise companies' profiles across the UK and abroad with outstanding research, investor engagement programmes and advisory services. Some of our notes have been commissioned by the company which is the subject of the note; this is clearly stated in the disclaimer where this is the case.

Hardman Research Ltd, trading as Hardman & Co, is an appointed representative of Capital Markets Strategy Ltd and is authorised and regulated by the Financial Conduct Authority; our FCA registration number is 600843. Hardman Research Ltd is registered at Companies House with number 8256259.

Our research is provided for the use of the professional investment community, market counterparties and sophisticated and high net worth investors as defined in the rules of the regulatory bodies. It is not intended to be made available to unsophisticated retail investors. Anyone who is unsure of their categorisation should consult their professional advisors. This research is neither an offer, nor a solicitation, to buy or sell any security. Please read the note for the full disclaimer.