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.