StockMarketWire.com - City of London's funds under management stood at US$3.93bn (£2.5 billion) at the 15 October, according to an update ahead of today's annual general meeting.

This compares with US$3.6 billion (£2.4 billion) at the company's quarter-end on 30 September. In US dollar terms, this represents a rise of c9% which is in line with the rise in the MSCI Emerging Markets Index (US dollar based), over the same period.

As noted in the September 30th trading update, 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. Confirmed new mandate wins stand at $75 million as at October 15th.




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