City of London Investment Group (CLIG) Q1 2026 TU earnings summary

Executive summary

• Funds under Management (FuM) rose 4% to $11.2 billion as of 30 September 2025, up from $10.8 billion at 30 June 2025.

• Investment strategies delivered solid performance, with notable outperformance in Emerging Markets and Listed Private Equity.

• Net investment outflows totaled $419 million during the quarter, despite strong market and investment performance.

Financial highlights

• Emerging Markets strategy returned +13.8% vs. benchmark +9.6%, outperforming by 420bps.

• Listed Private Equity strategy returned +13.7%, outperforming its 8% annual hurdle rate by 1180bps.

• International Equity strategy returned +7.0%, just above its benchmark of +6.9%.

• KIM's Growth Balanced and Conservative Balanced strategies performed in line with benchmarks.

• Dividend for FY 2025 maintained at 33p per share, subject to AGM approval.

Outlook and guidance

• Ongoing focus on leveraging discount volatility and corporate event pipelines for future outperformance.

• Continued marketing efforts targeting allocators amid persistent discount volatility.

• Leadership team broadening initiative progressing, with CEO search underway.