Charlemagne Profit Drops, But Firm Sees Turnaround

Sep 7 2010 | 10:01am ET

Hedge fund Charlemagne Capital reported lower first-half earnings on lower assets under management, but said that investors have begun to return to the firm over the past two months.

The London-based firm said its first-half operating profit dropped by 10% to US$1.17 million. Charlemagne blamed client outflows, which cut assets under management to US$2.8 billion at the end of June.

Since then, however, the firm has added more than US$200 million in assets and now manages US$3.04 billion, thanks both to inflows and improved performance. The firm said it has won commitments to its Occo Eastern European Fund that will bring that fund’s assets to US$300 million by the end of the year.

Despite the declines, management fees rose 24% year-on-year to $10.4 million. But that was more than offset by a 75% drop in performance fees to US$100 million.


In Depth

Whisky Business: The Ultimate Liquid Alternative Investment

Sep 15 2014 | 7:02am ET

David Robertson knows his single-malt whisky—he was the Master Distiller at the...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

Volkered: How Financial Sector Reforms are Creating Opportunities for Hedge Funds

Sep 16 2014 | 11:28am ET

New regulations have dramatically curtailed proprietary trading activity in investment...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

July/August 2014 Cover

In search of the ‘new normal’ at the Fed

The Federal Reserve keeps baby-stepping toward a “normalization” of monetary policy. But just what is normal?

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.