Profits Take A Fall At Charlemagne Capital, But Assets Rise In 2009

Tom Burroughes

11 March 2010

Charlemagne Capital, the UK-listed specialist emerging markets equity investment manager, said its net profit after taxes and other factors fell 59.1 per cent year-on-year to $5.7 million in 2009, although assets under management surged by 40 per cent to $3.05 billion.

Management fees fell by 52.9 per cent to $18.6 million; performance fees rose by 14.4 per cent to $4.2 million.

“The long term investment case for emerging markets remains compelling and Charlemagne is well placed to take advantage of these attractive investment opportunities,” said Jayne Sutcliffe, chief executive.

"The first half of the year was extremely challenging with emerging markets hitting an all time low in the first quarter, but we are delighted to have seen the dramatic recovery in the second half of 2009,” she said.