City Of London Investment Group PLC is a United Kingdom-based asset management company, consisting of two wholly owned subsidiaries that invest primarily in closed-end funds for the benefit of their respective clients. The Company, through its subsidiary City of London Investment Management Company Limited (CLIM), specializes in providing real estate investment trust (REIT) strategies for institutional clients. The Company, through its subsidiary Karpus Investment Management (KIM), provides closed-end fund strategies across all asset classes to wealth management clients in the United States. The client base of its two operating subsidiaries is long-term and United States-based, and includes pension funds, foundations, endowments and other institutional money managers. The Company operates in the United States, Canada, United Kingdom, Europe and others.