19th Jan 2016 08:09
LONDON (Alliance News) - Charlemagne Capital Ltd on Tuesday reported an increase in assets under management in the final quarter of 2015, but the specialist emerging markets asset manager still saw a decline over the course of the year as a whole.
The company reported assets under management of USD1.90 billion at the end of 2015, up 2.0% in the quarter but down 16% over the year.
Net management fees for the year were down about 20% at USD20.7 million, while net performance fees were up 79% at USD4.3 million.
"Despite the continuing headwinds in emerging markets Charlemagne's investment performance continues to be strong. All eight of our Magna mutual funds delivered top half performance with four of our funds in the top quartile over three years, while the OCCO long-short fund produced another positive year in dollar terms," Chief Executive Jayne Sutcliffe said in a statement.
"As the asset class overall continues to see net outflows, we are encouraged by the net inflows that we experienced in the second half of the year and remain optimistic for the longer term prospects of our business," Sutcliffe said.
Meanwhile, Adrian Jones, executive director, operations, will be stepping down from the board on January 31. He is "reducing his commitment" to the group due to family reasons, Charlemagne Capital said, and will retail a part-time role.
The company is scheduled to report earnings for 2015 on March 15.
By Samuel Agini; [email protected]; @samuelagini
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