Charlemagne Redemptions Offset By Performance

Apr 8 2010 | 4:03am ET

Investors remain wary of Charlemagne Capital, pulling money despite the firm’s positive performance.

The London-based hedge fund said its assets under management rose 3% in the first quarter to US$3.14 billion. But that increase was due entirely to US$118 million gained in the markets.

Investors continued to pull out more money than they are putting in. Charlemagne said the first quarter saw a net outflow totaling US$31 million.


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