Message from CEO Tom Griffith:
I’m pleased to update you on the merger between City of London Investment Group PLC and Karpus Management Inc. which closed on October 1st, 2020.
In the first phase of integration, the focus has been on IT infrastructure and the Finance functions, which have both proceeded as planned.
At the Group level, the complementary strengths of the merger bring together over 100 employees, covering multiple asset classes, with CLIM and KMI managing a combined US$11 billion in client assets as at December 31, 2020. Our investment subsidiaries will continue to operate independently in order to best serve client needs while our financial strength will allow us to continue to make technology investments necessary to compete in our global industry.
We look forward to updating you further over the coming months as we continue working on behalf of clients and shareholders to meet their expectations.