- City of London Investment Group's funds under management fell to US$3.6bn in the three months to the end of September - 14% down from US$4.2bn at the company's year-end on 30 June.

The MSCI Emerging Markets Index (US dollar based) fell by c18% over the same period.

The company said that despite the recent market volatility, the board is encouraged by the diversity in the current pipeline of potential mandates, with c$750 million spread across EM, Frontier, Developed and Tactical Asset Allocation asset classes. As a result the Company is hopeful that at least a net $250 million of additional FuM should be achievable over the next 6-9 months.

At 9:05am: [LON:CLIG] City of London Investment Group PLC share price was -33.5p at 323p

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