City of London has announced a trading statement for FY 2017. Over the year , funds under management grew to $4.7bn, a 17% increase over a year ago. This lagged the increase in the MSCI Emerging Markets TR Index of 24%. Fund performance was generally good, with only the Frontier assets lagging the benchmark. As indicated in earlier statements, the slower growth in assets was due to redemptions with net outflows over the year of $306m in Emerging Market, offset slightly by net inflows of c$26m into Diversification strategies.
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