- City of London Investment Group's funds under management stood at US$4.0bn (£2.6bn) at 31 December. This compares with US$3.9bn (£2.3bn) at the beginning of this financial year on 1 July and US$3.5bn (£2.1bn) at 30 November 2013 FuM at 31 January stood at US$4.0bn (£2.7bn). Revenues, representing the group's management charges on FuM, rose to £12.2m in the six months to the end of December (2013: £11.8m) and profit before tax increased to £4.3m (2013: £3.3m).

Chairman David Cardale said: "I anticipate good progress in the further development of your company over the rest of the current year and beyond."

Story provided by