My Portfolio: Year In Review 2015

01 January 2016
By Maynard Paton

Happy New Year!

I trust you enjoyed the festive break and are now raring to do battle with the market for another twelve months!

This first Blog post of 2016 provides a short ‘year-in-review’ of each of my current portfolio holdings.

As I mentioned at the start of 2015, I find writing such reviews extremely useful — not least because it encourages me to double-check my investment logic to ensure I am still invested for all the right reasons!

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City Of London Investment: Why I’ve Reduced My Holding

15 September 2015
By Maynard Paton

Quick update on City of London Investment (CLIG).

Event: Final results and annual report published 14 September.

Summary: No surprises here, as everything important was revealed within July’s summary figures. However, CLIG did confirm its funds under management had dropped by 17% during the recent market downturn and my sums are now starting to ask questions about the 24p per share dividend. All told, I do not feel comfortable with the current valuation and have therefore decided to reduce my holding.

Read moreCity Of London Investment: Why I’ve Reduced My Holding

City Of London Investment: 7% Income Confirmed In Double-Quick Time

15 July 2015
By Maynard Paton

Quick update on City of London Investment (CLIG).

Event: Summary annual results published 15 July

Summary: A set of satisfactory outline results, commendably issued once again in double-quick time. But it was no real surprise to see CLIG downgrade some of its earlier growth assumptions, while new client money continues to be required to help earnings recover and lift the dividend. The accounts remain great and for now I’m content with the 24p per share payout and 7% income. I continue to hold.

Read moreCity Of London Investment: 7% Income Confirmed In Double-Quick Time

City of London Investment: 7% Income Plus Vague Hints Of Dividend Lift

12 February 2015
By Maynard Paton

Quick update on City of London Investment (CLIG).

Event: Half-year results published 11 February.

Summary: Figures already heralded by January trading statement — therefore no surprises. Previous guidance all repeated. Still on course to pay 24p per share dividend and support 7% dividend yield at 335p. Vague hints of dividend increase now emerging. Cash position remains high. P/E remains modest. I continue to hold. 

Read moreCity of London Investment: 7% Income Plus Vague Hints Of Dividend Lift

City of London Investment — 7%-Plus Dividend Yield Still Available

06 January 2015
By Maynard Paton

I was quite satisfied with today’s update from City of London Investment (CLIG), my largest holding.

The emerging-market fund manager confirmed its assets under management (AUM) had improved from $3.9bn to $4.0bn during the six months to December 2014, a period when the group’s emerging-market benchmark index dropped 8%.

Although today’s statement revealed slightly reduced profit guidance for the current year, new projections for the subsequent twelve months (to June 2016) appear quite promising.

I’m reassured all my sums continue to point to a maintained 24p per share dividend and a bumper 7%-plus yield at 325p.

Read moreCity of London Investment — 7%-Plus Dividend Yield Still Available

City of London Investment Group PLC: How I’m Banking On An 8.5% Dividend Yield

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. 

Read moreCity of London Investment Group PLC: How I’m Banking On An 8.5% Dividend Yield