Tuesday, 28 April 2015
Last updated 8 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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…