Quality UK Investment Blog
All my blog posts for City of London Investment (CLIG).
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.
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.
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.
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