City of London Investment Group funds under management rise 5% in first quarter of 2015
Asset management company City of London Investment Group said its funds under management increased in the first quarter of 2015.
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In the three months to end of the March, which represents the company’s fiscal third quarter, funds under management rose 5% quarter-on-quarter to $4.2bn (£2.8bn).
The company added that costs are in line with budget at £0.8m per month, while the current run-rate for operating profit, before profit-share at 30%, is approximately £1.2m per month.
City of London Investment Group shares were up 1.80% to 344.86p at 11:01 on Wednesday.