Charlemagne Capital, the UK-listed investment firm, said its group assets under management rose by 16 per cent year-on-year to $2.8 billion on 30 June, but this represented a 9.5 per cent fall from the start of January this year.

Net management fees rose by 24 per cent on the same period last year, the firm said in a results statement to the London Stock Exchange.

Crystallised performance fees were $3.8 million compared with $0.3 million for the comparative period in 2009.  As previously announced, $3.7 million of crystallised performance fees received in the period relate to the distribution of the net assets of SWR Investments Limited, a jointly controlled entity now in the process of being wound up.

Accruing performance fees for 2010 which have not crystallised were $2.1 million compared with $0.9 million as at the same date in 2009.  Performance fees accrue throughout the reporting period in the accounts of each relevant fund, the firm said.

Earlier this month, Charlemagne said it had appointed Nick Brack as head of UK mutual fund sales. Brack recently worked for L&G Investment Management where he worked with both UK multi-manager and wealth manager clients. The firm also launched the Magna Emerging Markets Dividend Fund.