City Of London Investment Group announced Tuesday that it experienced a $170 million outflow from emerging markets during the three months ending March 31, attributing the decline to

uncertainty sparked by tariffs imposed by U.S. President Donald Trump.

The tariffs have roiled global financial markets, triggering sharp trading fluctuations across asset classes and increasing concerns over the global economic outlook—raising the specter of a potential recession.

The firm also reported a further $200 million decline in assets under management in the first half of April, bringing total assets to $9.7 billion.

In response, City Of London said it is intensifying its marketing efforts, noting that closed-end fund discounts remain wide. The company sees potential for growth in investment sales outside the U.S. through partnerships with international distributors. Photo by Gage Skidmore, Wikimedia commons.