8 Oct 2008 07:00
Charlemagne Capital Limited
8 October 2008
Charlemagne Capital Announces Unaudited Assets under Management as at 30 September 2008
Charlemagne Capital Limited ("Charlemagne" or the "Group") sets out below the Assets under Management ("AuM") as at 30 September 2008 and the movements for the first nine months of its current financial year.
Group AuM
Group AuM total down 46.8% since 1 January 2008 to US$3.5 billion as at 30 September 2008 reflecting the current turbulence in Global markets.
The table below sets out the Group's AuM as at 30 September 2008 and the movements experienced in each product range in the period since 1 January 2008.
| 1 January 2008 | Net Subscriptions | Reorganisation | Net Performance | 30 September 2008 | Movement In | ||||
| AuM (US$m) | (US$m) | (%) | (US$m) | (%) | (US$m) | (%) | AuM (US$m) | Period (%) | |
| Magna | 1,650 | (172) | (10.4) | (48) | (2.9) | (696) | (45.2) | 734 | (55.5) |
| OCCO | 473 | (50) | (10.6) | 0 | 0 | (73) | (16.3) | 350 | (26.0) |
| Institutional Advisory | 2,663 | (567) | (21.3) | 0 | 0 | (954) | (40.1) | 1,142 | (57.1) |
| Institutional Mandates | 1,149 | 389 | 33.9 | 48 | 4.2 | (681) | (49.8) | 905 | (21.2) |
| Specialist | 563 | 3 | 0.3 | (90) | (16.0) | (152) | (29.3) | 324 | (42.5) |
| Total | 6,498 | (397) | (6.1) | (90) | (1.4) | (2,556) | (40.9) | 3,455 | (46.8) |
Note: Closing AuM is stated as including all subscription and redemption orders
received for the relevant funds as at the close of the period but not processed
until the first dealing date of the following period.
Key areas of movement in AuM over third quarter of 2008 include:
One new Institutional mandate, increasing the total number of new mandates to eight year to date, with total initial subscriptions of US$393 million.
Difficult market conditions directly impacted AuM.
The average management fee margin has remained stable at around 81 basis points per dollar throughout the period despite the changing mix of business.
Enquiries:
Charlemagne Capital Tel. 020 7518 2100
Jayne Sutcliffe, Chief Executive
David Curl, Finance Director & Head of Investment
Smithfield Consultants Tel. 020 7360 4900
John Kiely
Gemma Froggatt
This announcement is not for publication or distribution to persons in the United States of America, its territories or possessions or to any US person (within the meaning of Regulation S of the US Securities Act of 1933, as amended). Neither this announcement nor any copy of it may be taken or transmitted into Australia, Canada or Japan or to Canadian persons or to any securities analyst or other person in any of those jurisdictions. Any failure to comply with this restriction may constitute a violation of United States, Australian, Canadian or Japanese securities law. The distribution of this
announcement in other jurisdictions may be restricted by law and persons into whose possession this announcement comes should inform themselves about and observe any such restrictions.
This announcement contains certain forward-looking statements with respect to the financial condition, results of operations and businesses of the Charlemagne Capital Group. These statements and forecasts involve risk and uncertainty because they relate to events and depend upon circumstances that will occur in the future. There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements and forecasts. Nothing in this announcement should be construed as a profit forecast.
This statement is aimed at providing information regarding the Assets under Management on which revenue is derived by Charlemagne Capital Limited. The unaudited data contained in this statement are currently provisional and all such data are subject to change. This statement is produced in order to provide greater disclosure to investors and potential investors and to ensure that they all receive equal access to the same information at the same time.