- Investment manager City of London said its funds under management slipped in the first quarter, in US dollar terms, amid a performance that was 'slightly' behind benchmark.

At 30 September, funds under management fell to $5.0bn (£3.8bn), compared to $5.1bn (£3.9bn) at 30 June.

Flows over the quarter were neutral, the company said.

Emerging markets, frontier and opportunistic value strategies saw rebalancing outflows, which were offset by continued strong flows into the developed strategy and the funding of a new municipal bond mandate.

At 9:54am: [LON:CLIG] City of London Investment Group PLC share price was +18.5p at 414.5p

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