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HARDMAN & CO RESEARCH Hardman & Co Research: City of London Investment Group (CLIG): Handling challenging markets well

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22/04/2020 16:05

Hardman & Co Research
Hardman & Co Research: City of London Investment Group (CLIG): Handling challenging markets well

22-Apr-2020 / 15:05 GMT/BST


Hardman & Co Research: Handling challenging markets well

City of London has announced a trading update for 3Q'20. Market conditions have been challenging for fund managers. With a largely institutional investor base, there has been a mixture of subscriptions and withdrawals, with net withdrawals in the quarter of $35m. Falling markets weighed more heavily on FUM and, at the end of March, total FUM were $4.40bn, down from $6.01bn three months earlier. We do note that markets have recovered somewhat so far in April, suggesting current FUM will have clawed some of that back. No decision has been taken on the dividend, but near-term increases look unlikely

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https://www.hardmanandco.com/research/corporate-research/handling-challenging-markets-well/

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Brian Moretta

+44 20 7194 7622

 

bm@hardmanandco.com
 

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About Hardman & Co: For the past 25 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.

 



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End of Announcement - EQS News Service

1027663  22-Apr-2020 

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