City Of London Sees $170M Emerging Markets Outflow Amid Tariffs
-Fund manager City Of London Investment Group on Tuesday reported a $170 million outflow from emerging markets in the three months to March 31, citing uncertainty from tariffs imposed by U.S. President Donald Trump.
Trump's tariffs have caused turbulence in global markets, creating volatile trading swings across asset classes, clouding the global economic outlook, and prompting recession fears.
City Of London said its funds under management dropped in the first half of April by $200 million compared with the end of March, and currently stood at $9.7 billion.
"We are redoubling our marketing efforts as closed-end fund discounts are wide and we see opportunities to expand group investment sales outside of the U.S. with international distribution partners," the company said in a statement.
(Reporting by Shashwat Awasthi in Bengaluru; Editing by Nivedita Bhattacharjee)
