CCAP.L Share News (CCAP)

Hedge fund manager Charlemagne Capital's assets under management (AUM) slipped 5.5% for the year to June 30, hurt by declining net outflows from the long only funds and individual factors relating to each of its markets. Charlemagne said it intends to declare an interim dividend in respect of the six months to 30 June but failed to disclose a figure. Investors were largely unaffected by the statement and shares of the firm remained flat. The company said the group's AUM was $3.3bn, down 5.5% since 1 January 2011, but has risen 19.3% since June 2010. It added that net management fees were up 16.3% on same period last year and up 2.7% on last six months. During the first half of 2011, Charlemagne said Russia was an early out-performer but faded as the period progressed, while the Middle East markets were negatively affected by the falls of the government in Egypt and Tunisia."Inflation in emerging markets is likely to remain a concern, but there is increasing evidence that it is levelling off and may start to decline later this year," it added. AR