Wednesday, 25 November 2015
Last updated 6 hours ago
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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…