City of London Investment Group funds under management rise 5% in first quarter of 2015

8th Apr 2015 10:50

Asset management company City of London Investment Group said its funds under management increased in the first quarter of 2015.In the three months to end of the March, which represents the company's fiscal third quarter, funds under management rose 5% quarter-on-quarter to $4.2bn (£2.8bn).The company added that costs are in line with budget at £0.8m per month, while the current run-rate for operating profit, before profit-share at 30%, is approximately £1.2m per month.City of London Investment Group shares were up 1.80% to 344.86p at 11:01 on Wednesday.