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

Creating An Offshore Hedge Fund Dream Team: The Seven Key Players

Jun 26 2015 | 6:47am ET

If you want to set up an offshore hedge fund, like any great team, you’re only...

Lifestyle

Hedgies Set to Compete in Wall Street Decathlon

Jun 8 2015 | 12:37am ET

The Wall Street Decathlon — a 10-event physical challenge that will crown “Wall...

Guest Contributor

6 Essential Principles To Balance Your Investment Risk

Jun 26 2015 | 10:07am ET

In this article, financial expert Greg Silberman explores how to hedge a private...

 

Editor's Note