- Asset management group City of London funds under management were boosted by strong investment performance that helped offset net outflows for the year.

For its financial year ended 30 June 2021, funds under Management were US$11.4 billion, compared with US$5.5 billion at the end of 30 June 2020.

'Strong investment performance across CLIG's investment strategies resulted from strong NAV performance at the underlying closed end funds and positive discount effects,' the company said.

The investment performance was tempered by the 'high levels of client rebalancing and liquidations, leading to net outflows of circa US$774 million across the group's strategies,' the company said.

The company proposed a final dividend of 22p per share, up from 20p last year, bringing the total dividend payment for the year to 33p, up from 30p.

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