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Hardman & Co Research: City of London Investment Group (CLIG): Another solid year

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Hardman & Co Research
Hardman & Co Research: City of London Investment Group (CLIG): Another solid

18-Sep-2019 / 13:45 GMT/BST

Hardman & Co Research: Another solid year

City of London has announced its results for FY2019. The headline figures of
GBP11.4m PTP and undiluted EPS of 34.9p were in line with July's trading
statement, meaning the interest for investors was in the details. Although
FUM ended the year up by more than 5%, at $5.39bn, average FUM for fee
collection was slightly lower ($5.1bn in FY2019 compared with $5.2bn in
FY2018). Combined with the ongoing decline in fee rates from the increase in
the diversification areas, revenue declined almost 6% to $31.9m. Staff costs
increased with the recruitment of the new REIT team, with offsets from
reduced commissions and other administrative costs.

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by clicking on the above link

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Hardman & Co Brian Moretta bm@hardmanandco.com
35 New Broad Street
London +44 20 7194 7622


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Hardman & Co Research can still be accessed for free after MiFID II. Please
click here [2] to read the statement.

About Hardman & Co: For the past 21 years Hardman has been producing
specialist research designed to improve investors' understanding of
companies, sectors, industries and investment securities. Our analysts are
highly experienced in their sectors, and have often been highly rated by
professional investors for their knowledge. Our focus is to raise companies'
profiles across the UK and abroad with outstanding research, investor
engagement programmes and advisory services. Some of our notes have been
commissioned by the company which is the subject of the note; this is
clearly stated in the disclaimer where this is the case.

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

Our research is provided for the use of the professional investment
community, market counterparties and sophisticated and high net worth
investors as defined in the rules of the regulatory bodies. It is not
intended to be made available to unsophisticated retail investors. Anyone
who is unsure of their categorisation should consult their professional
advisors. This research is neither an offer, nor a solicitation, to buy or
sell any security. Please read the note for the full disclaimer.

Dissemination of a CORPORATE NEWS, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
End of Announcement - EQS News Service

875889 18-Sep-2019

1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=d6a4e345aba31043f1742b093f32e749&application_id=875889&site_id=vwd&application_name=news
2: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=5a632f52f80bd372265e4041a743aa1c&application_id=875889&site_id=vwd&application_name=news

(END) Dow Jones Newswires

September 18, 2019 08:45 ET ( 12:45 GMT)

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