10th Oct 2014 07:55
LONDON (Alliance News) - Charlemagne Capital Ltd Friday said assets under management fell 8.4% in the third quarter, hit mainly by the closure of an advisory-only mandate that will have a "negligible" impact on its revenue, although net performance also declined across its funds.
In a statement, the company said assets under management stood at USD2.59 billion on September 30, down from USD2.83 billion on July 1.
"Markets, particularly those in which the group's assets have a higher weighting, have performed negatively during the quarter with the MSCI Emerging Markets Index down 3.5% and the MSCI Eastern European Index down 11.82% on a US dollar net basis," it said in a statement.
| 01-Jul-14 | Net Subscriptions | Net Performance | 30-Sep-14 | Movement In | ||
| AuM (US$m) | (US$m) | (%) | (US$m) | (%) | AuM (US$m) | Period (%) |
Magna | 721 | 21 | 2.9 | (27) | (3.7) | 715 | (0.8) |
OCCO | 687 | (19) | (2.8) | (5) | (0.7) | 663 | (3.5) |
Institutional | 1,278 | (112) | (8.8) | (94) | (7.7) | 1,072 | (16.1) |
Specialist | 143 | 5 | 3.5 | (7) | (4.8) | 141 | (1.4) |
Total | 2,829 | (105) | (3.7) | (133) | (4.8) | 2,591 | (8.4) |
Charlemagne Capital shares were down 2.7% at 13.50 pence early Friday.
By Steve McGrath; [email protected]; @stevemcgrath1
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