Good fund performance and solid results

Hardman & Co Research on City of London Investment Group (CLIG): Good fund performance and solid results City of London has announced its full-year results for 2024. As stated in the trading statement, FUM was $10.24bn, a 9% increase over the year. While market performance offset net outflows, there was a significant improvement in the latter in the second half, which bodes well going forward. Underlying profit before tax of $27.2m was a 0.5% increase over 2023’s $27.0m. A higher effective tax rate meant that underlying EPS declined 3% from 43.4¢ to 42.2¢. As previously announced, the final dividend was unchanged, at 22p, making 33p for the year as whole. Cash balances increased, to $33.7m, from $25.9m as of 31 December 2023. Please click on the link below for the full report: https://hardmanandco.com/research/corporate-research/good-fund-performance-and-solid-results/ If you are interested in meeting the company, you can register your interest by clicking on the above link. To contact us: Hardman & Co 9 Bonhill Street London EC2A 4DJ www.hardmanandco.com Follow us on X: @HardmanandCo Contact: Brian Moretta bm@hardmanandco.com Hardman & Co Research can be accessed for free under MiFID. Please click here to read the statement. About Hardman & Co: Hardman Research Ltd, trading as Hardman & Co, is an appointed representative of Capital Markets Strategy Ltd and is authorised and regulated by the Financial Conduct Authority; our FCA registration number is 600843. Hardman Research Ltd is registered at Companies House with number 8256259. Attention is drawn to the important disclaimers at the end of the report.