City of London Investment Group (CLIG) Trading update summary

Funds under management and performance

• Funds under management rose 8.7% to $10.2 billion as of 30 June 2024, up from $9.4 billion a year earlier.

• International equity, Opportunistic Value, and Frontier Markets strategies outperformed benchmarks, while Emerging Markets equity lagged.

• KIM's fixed income, international equity, conservative balanced, and SPAC strategies outperformed, but US equity lagged its benchmark.

Net flows and client activity

• Net investment outflows totaled $320 million for the year, with a significant reduction in outflows in the second half.

• Clients reduced exposure to Emerging Markets due to ongoing geopolitical volatility.

• International equity strategies attracted over $150 million in net new inflows.

• Marketing efforts remain focused on attractive discounts across asset classes.

Dividend and upcoming events

• Final dividend for the year is expected to be in line with the previous year.

• Final dividend and results will be announced on 17 September 2024, with payment expected in November.

• Annual General Meeting scheduled for 28 October 2024.