City of London Investment Group (CLIG) Trading update summary

Funds under management and performance

• Funds under management rose 5.6% to $10.8 billion as of 30 June 2025, up from $10.2 billion a year earlier.

• All CLIM strategies outperformed their benchmarks, with Emerging Markets up 20.3% and International Equity up 22.7%.

• KIM strategies also delivered strong results, notably Taxable Fixed Income outperforming its benchmark by 150bps.

• Outperformance was driven by narrowing discounts, event-driven actions like buybacks, and market volatility.

• Non-US equities outperformed, boosting International Equities and Emerging Markets strategies.

Flows and mandates

• Net investment outflows totaled $974 million, mainly in the first half due to macro uncertainty.

• International Equity and Emerging Markets strategies saw net outflows of $387 million and $372 million, respectively.

• New mandates included $60 million in Listed Private Equity and $70 million in Emerging Markets.

• Net inflows of $84 million were recorded across Opportunistic Value, Listed Private Equity, alternatives, and Taxable Fixed Income.

• Total FuM at year-end was $10.8 billion, with detailed breakdowns by strategy.

Leadership and governance

• Mike Edmonds was appointed Chief Investment Officer of CLIM in June 2025.

• Chairman Rian Dartnell is working with the Board to evaluate CEO candidates and future leadership needs.

• The team is focused on risk-adjusted returns, client service, and shareholder engagement.

• Commitment to inclusivity and accountability is being reinforced for long-term success.