City of London Investment Group: a quality play on emerging market value?
City Of London Investment (LON:CLIG) is a pioneer in the Emerging Market closed-end fund (CEF) space. Its long term outlook, consistent investment processes and proven track record of outperformance has attracted a stable base of institutional clients and fund inflows over the years.
Following great success in the early 90s as an emerging market specialist, CLIG used its CEF knowledge to expand into other areas. Today, the group markets five CEF strategies:
Emerging Markets CEF - the original CLIG product that has been marketed for decadesFrontier Markets CEF - an extension of the EM core equity product that focuses on the smallest or pre-emerging markets with high growth potentialDeveloped Markets CEF - targeting global developed marketsOpportunistic Value - a global, bottom-up, high-conviction fundTactical Income - a multi-sector fund focused on generating tax-efficient income for US investorsOn top of this, CLIG launched two Real Estate Investment Trust products in January 2019 that focus on emerging market and global REITs.
Given last year’s stories of star fund managers and style drifts, it is reassuring to hear CLIG discuss its investment process:
We have always strived to develop and nurture an investment process which does not rely on 'star' fund managers, but rather upon a...