Sarah Ing, the Non-Executive Director at CMC Markets and Marex has been appointed as the Non-Executive Director of City of London Investment Group PLC. Ing has served as a Non-Executive Director at CMC Markets since September 2017. She brings over 30 years of experience in accountancy, investment banking, and fund management to her new role.
Rian Dartnell, the Chair of the City of London Investment Group, mentioned: "On behalf of the Board, I would like to welcome Sarah Ing. Sarah's extensive experience in asset management and her record of delivering significant results across a range of businesses will add an important dimension to the Board."
Boardroom Leadership
Throughout her career, Ing has held key positions in reputable organizations, such as HSBC and UBS. Notably, she founded and led a hedge fund investment management business.
Currently, Ing is the Non-Executive Director at XPS Pensions Group where she chairs the Audit, Risk, and Sustainability Committee. Effective March 1, 2024, she will assume her new role. According to a statement by the City of London Investments Group, she is expected to drive strategic initiatives and foster growth in the organization.
City of London Investment Group PLC released its financial report for the half-year today (Friday), highlighting growth in Funds under Management (FuM) and profitability. With FuM reaching $9.6 billion by December 31, 2023, the company has maintained its interim dividend.
City of London Investment Group's Financial Results
According to the press release, the City of London Investment Group reported a boost in FuM to $9.6 billion by December 31, 2023, compared to the $9.4 billion in funds at the beginning of the financial year and $9.2 billion by December 31, 2022.
The company's net fee income, representing management fees on FuM, stood at $32.6 million by December 31, 2023, up from $31.9 million recorded in the same period last year. However, underlying profit before tax experienced a decline to $13.3 million, compared to $13.6 million reported in December 2022.
City of London Investment Group has declared an interim dividend of 11p per share. Shareholders on the register by March 1, 2024, will receive the dividend on March 28, 2024, the firm mentioned.
