Developed Closed-End Fund Strategy

The Developed Closed-End Fund Strategy seeks to provide long-term capital growth via stock selection and active country allocation. We believe that closed-end funds offer an efficient way to invest in Global/International equity markets. Our "alpha" is generated by capitalizing on discount changes and pricing anomalies that arise in closed-end funds. We specialize in identifying and capitalizing on discount movements and pricing anomalies to provide above average, long-term outperformance versus the appropriate benchmark while maintaining a lower level of volatility than the benchmark.

Global Developed Closed-End Fund IE Composite Performance Ending 31 Mar 2012  
MSCI ACWI ex US Index   11.23% -7.18% 4.14%
Past performance is no guarantee of future results. Periods over one year are annualized.
Results Shown in US $ (Net of fees) Period to Date
(3 Months)
 1 Year Since Inception
(30 Sep 2009)
Global Developed CEF Intl Equity Composite 14.62% -2.76% 8.69%

Definition of the Firm: City of London Investment Management Company Limited is authorised and regulated for the conduct of investment business within the UK by the Financial Services Authority (FSA), registered as an Investment Advisor with the United States Securities and Exchange Commission (SEC) and regulated by the Dubai Financial Services Authority (DFSA).

City of London Investment Management Company Limited (CLIM) is the institutional investment management subsidiary of City of London Investment Group PLC and is a registered investment advisor specialising in Emerging Market and Natural Resource investment management. The Developed Closed-End Fund Composite strategy seeks to provide long-term capital growth via stock selection and active country allocation.

CLIM claims compliance with the Global Investment Performance Standards (GIPS®)

To receive a complete list and description of CLIM composites and/or a presentation that adheres to the GIPS standards, contact client servicing at client.servicing@citlon.com.

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© City of London Investment Group PLC, 2012.
Composite Description: The City of London Global Developed CEF International Equity Composite was created in October 2009, and is an international equity composite focused on global markets, managed by City of London Investment Management. The strategy strives to outperform the MSCI All Country World (ACWI) ex USA Index with controlled risk. It utilizes fundamental investment principles and quantitative approaches to provide broad global equity exposure, primarily through closed-end funds. It uses both top-down and bottom-up valuation methodologies to value asset classes, countries and closed-end funds to determine under or over valued opportunities. The composite is managed to the MSCI All Country World (ACWI) ex USA Index. Prior to November 1, 2010, the composite was named the City of London All Country World ex USA SMA Composite.
Index Description: The MSCI All Country World ex USA Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets. As of December 2010 the MSCI ACWI ex USA Index consisted of 44 country indices, comprising 23 developed and 21 emerging markets.