08 May 2014
By Maynard Paton
I love to buy shares run by owner-orientated bosses. You see, they often ensure shareholders are amply rewarded with reliable dividends and are generally the best people to put things right when progress doesn’t exactly run to plan.
That is certainly the case I think at City of London Investment (LON: CLIG), an emerging-market fund manager, where chief executive Barry Olliff remains committed to a healthy payout even though earnings have suffered a setback.
Having started to issue perhaps the most detailed ‘forward earnings guidance’ of any quoted company, Mr Olliff is perhaps the most open, upfront and shareholder-friendly executive I have ever come across.