Charlemagne Profit Soars

Mar 7 2011 | 9:53am ET

Despite suffering some outflows, last year proved a very good one for Charlemagne Capital.

The London-based hedge fund said its profit jumped more than 50% in 2010 to US$10.4 million. In 2009, pretax profits were just US$6.8 million.

The emerging markets specialist accomplished the feat even though investors pulled a net US$64 million, leaving assets under management at US$3.5 billion.

"There has been recently a bit of a flight to developed markets," CFO Lloyd Jones said. But Charlemagne countered that with strong performance, including in its eastern European-focused OCCO range, which saw substantial inflows. The OCCO hedge fund was closed to new investors in October.

But Jones told Reuters that the fund could be reopened in the second quarter, and that the firm is considering new funds focused on Turkey, Uzbekistan and Kazakhstan this year.


In Depth

Debunking Conventional Investment Wisdom

Feb 8 2017 | 3:22pm ET

Due diligence in the hedge fund world has long involved some combination of the...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

iCapital Network: The Trump Effect On Direct Lending

Feb 23 2017 | 4:21pm ET

The arrival of the Trump Administration has raised questions among private debt...

 

From the current issue of