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24 November 2022
By Maynard Paton
I have recorded another episode of The Private Investor’s Podcast with my good friend Mark Atkinson. We discussed City of London Investment (CLIG) and my recent share purchase, my AGM attendance and the company’s 9% dividend yield:
- My recent CLIG purchase and history of ownership.
- A lack of capital gains, but superb dividends.
- Where CLIG stands in my portfolio now.
- How does CLIG invest for its clients?
- My attendance at the AGM and previously receiving a letter from CLIG’s founder.
- Major shareholder George Karpus and his future plans.
- The performance of Karpus Investment Management following the merger.
- CLIG’s regular client income, but fees are being squeezed.
- Employee remuneration versus client returns.
- The share-price KPI and potential double-digit returns.
- CLIG’s investment team approach and employee retention.
- History of funds under management and recent client-money inflows.
- The S&P 500, institutional ‘allocators’ and portfolio ‘buckets’.
- The attractions of emerging markets and potential for outperformance.
- Private investors holding CLIG and liking cash-rich income stocks.
- The 9% yield, valuation comparison with Liontrust and closing thoughts.
- My 2022 AGM attendance notes.
- My CLIG blog post George Karpus commented upon.
- My 2016 AGM attendance notes.
- My letter from CLIG founder Barry Olliff
PS: The AGM took place on 31st October 2022 and the podcast recording took place on 21st November 2022.
Disclosure: Maynard owns shares in City of London Investment.