City of London has published a trading statement this morning covering 1Q18. As indicated at the time of the release of the annual report, Funds under Management (FUM) have continued to grow and finished the quarter at $5.0bn, compared to $4.7bn at the end of June. Emerging Markets have continued to perform well, though this has continued to lead to redemptions from rebalancing. Over the quarter FUM growth of 6% slightly lagged the MSCI Emerging Markets total return Index figure of 8%, but was ahead of the MSCI World Index rate of 5%. The pipeline is described as ‘robust’.