- City of London Investment Group's funds under management rose to US$3.9bn in the 13 months to the end of June- an increase of 6%.

In sterling terms, FuM fell by 6% to £2.3bn (2013: £2.4bn) as a result of the cross rate moving from 1.52 to 1.71 over the period.

The MSCI Emerging Markets TR Net Index registered a 7% increase over the same period.

Revenues, representing the group's management charges on FuM, were £24.2m (2013: £29.4m) and profit before tax fell to £7.2m (2013: £8.9m).

Basic earnings per share fell to 20.7p (2013: 24.9p) after a tax charge of 28% (2013: 29%) of pre-tax profits.

At 8:13am: [LON:CLIG] City of London Investment Group PLC share price was -2.62p at 317.63p

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