At City of London, we focus not on gathering assets, but on building products that reflect our expertise. Initially, and for many years since the firm was founded, that expertise was very specific to Closed-End Funds (CEFs) which offered emerging markets exposure.
This was subsequently complemented by applying our unrivalled knowledge of Closed-End Funds around the world to the creation of a Developed Markets CEF strategy, a Frontier Markets CEF strategy and an Opportunistic Value CEF strategy, using a similar investment process.Additionally, for US taxable investors, we created a Tactical Income CEF strategy, with a focus on maximizing after-tax returns.
This was subsequently complemented by applying our unrivalled knowledge of Closed-End Funds around the world to the creation of a Developed Markets CEF strategy, a Frontier Markets CEF strategy and an Opportunistic Value CEF strategy, using a similar investment process.Additionally, for US taxable investors, we created a Tactical Income CEF strategy, with a focus on maximizing after-tax returns.
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City of London Investment Management was founded in 1991 by Barry Olliff. The company was formed out of the London-based operations of Olliff & Partners PLC (O&P) that had been founded by Barry in 1987. O&P was an agency stockbroker and corporate finance boutique specialising in the U.K. investment trust sector.
City of London Investment Management (CLIM) is an active value orientated equity manager specializing in Closed-End Funds. It should be emphasized that CLIM's investment strategy differs from that of a traditional manager, in that we capitalize on the very real and identifiable inefficiencies Closed-End Funds offer.
Our Investment approach combines a Top-Down Macro Process with Bottom-Up Stock Picking. Our Macroeconomic Team is responsible for analysing and ranking the countries in our investment universe while the Investment Team selects stocks based upon several criteria, outlined in the sections below. Twenty-five percent of CoL's value added is via our top down country allocation methodology.
The London office, our first, has been based in the City of London since 1991. In London we undertake investment management for our clients and research into our global markets from the European time zone. Our second office was established near Philadelphia in the United States in 1995 to better service the growing client base in North America and to enable us to provide investment management from the Americas time zones.
The Opportunistic Value Closed-End Fund (CEF) Strategy seeks to provide long-term capital growth via a value-driven, high-conviction approach. The Strategy is maximally opportunistic, seeking to take advantage of the most compelling valuations in the closed-end fund universe globally.
The investment philosophy is bottom-up and benchmark agnostic, giving focused exposure to closed-end fund discount dislocations across asset classes and geographies in a concentrated "best ideas" portfolio.The investment objective of the strategy is to outperform the benchmark index after fees, over a three year period, by exploiting discount inefficiency in the closed-end fund universe.
The investment philosophy is bottom-up and benchmark agnostic, giving focused exposure to closed-end fund discount dislocations across asset classes and geographies in a concentrated "best ideas" portfolio.The investment objective of the strategy is to outperform the benchmark index after fees, over a three year period, by exploiting discount inefficiency in the closed-end fund universe.
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