City of London Investment Group (CLIG) H1 2026 TU earnings summary

Executive summary

• Funds under Management (FuM) rose 4% to $11.2 billion as of 31 December 2025, and further to $11.6 billion by 15 January 2026.

• Global markets saw a risk-on phase, with equities delivering strong returns and bonds remaining flat.

• Net investment outflows totaled $853 million, mainly due to client rebalancing and strategic changes, but gross inflows of $247 million were recorded.

Financial highlights

• MSCI ACWI TR Index returned 11.4% for the six months ending 31 December 2025; Bloomberg Global Aggregate Index gained 0.8%.

• CLIM Emerging Markets strategy outperformed its benchmark by 540bps; Listed Private Equity outperformed by 1620bps.

• KIM Taxable Fixed Income and Tax-Sensitive Fixed Income strategies have outperformed their benchmarks by 4.91% and 2.80% annually over five years.

Outlook and guidance

• Most strategies report higher FuM levels into 2026, reflecting favorable market conditions and strong investment team performance.

• Persistent discount volatility and strong strategy outperformance are expected to support ongoing marketing efforts.