City of London Investment Group boosts funds by 14 per cent

City of London Investment Group announced that funds under management jumped 14 per cent in the first quarter of 2019 to £4.1bn.

The group reported funds under management of £4.1bn, an increase from the £3.6bn recorded at the end of last year. 

Read more: Emerging markets shake City of London Investment profits

The asset management firm’s developed and emerging market strategies recorded net inflows of $101m and $45m respectively, while net flows in the firm’s opportunistic value and frontier strategies were flat.

Developed market products drove the company’s asset growth the quarter as the strategy grew assets under management by 33 per cent.

Shares in the group were up 2.76 per cent after it said its emerging markets, developed and opportunistic value strategies had outperformed expectations in the first three months of the year

The company announced an interim dividend of 9p per share, and a special dividend of 13.5p per share which was paid on 22 March this year.

Read more: Gresham House assets under management soar by 250 per cent

The board will announce its final dividend on 16 July.