Charlemagne assets rise by 3%

Date: Wednesday, April 7, 2010
Author: ShareCast

Hedge fund group Charlemagne Group's assets under management rose slightly over the three months to March despite a net outflow of subscriptions.

Assets under management rose by 3% from 1 January to end March to $3.14bn, as its funds recovered further from the effects of the turbulence in global markets.

There was a net outflow in subscriptions of $31m, but this was offset by a $118m gain in net performance. All of the outflows occurred in the institutional advisory and institutional mandate arms, with money coming into Charlemagne's other areas.