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

U.S. Treasury Moves on Reinsurance Loophole

Apr 24 2015 | 5:11pm ET

The U.S. Treasury Department has released proposed rules aimed at limiting the ability...

Lifestyle

Puerto Rico Woos The Rich But So Far Gains Little

Apr 17 2015 | 2:45am ET

Hedge fund manager Rob Rill grins. He has just had word that U.S. financial regulators...

Guest Contributor

Opportunities Ahead: Asian Fixed Income and Currency Markets

Apr 24 2015 | 6:18am ET

For hedge funds focusing on Asia, the policy uncertainty, unclear interest rate...

 

Editor's Note