City of London has announced a trading statement for 2017Q3. Funds under management have grown to $4.4bn. Rising equity markets have been the main reason behind this rise, with the MSCI Emerging Markets Index up 11% over the quarter. On the debit side there were net redemptions of $140m, reducing the net rise in City of London’s FUM to 8%. There was also a return to positive performance in the funds with 90% of exposure outperforming the relevant benchmarks, a welcome improvement after a tough period in the preceding six months.