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

Executive summary

• Specialist asset manager with over 30 years of growth, strong recurring cash flow, and a high dividend payout history exceeding 8% yield annually.

• Global team manages $11.3b in funds under management (FuM) as of September 30, 2025, with institutional and high-net-worth client focus.

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

• Underlying earnings per share rose 9.6% to 36.7p for the year ended June 30, 2025 (2024: 33.5p).

• FuM increased by 5.6% to $10.8b as of June 30, 2025 (2024: $10.2b).

• 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.

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

Outlook and guidance

• Renewed interest in international and emerging markets investing, representing 57% of AUM.

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

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

• Significant capacity for new FuM growth with low incremental costs.

• Continued marketing efforts targeting allocators amid persistent discount volatility.