CCAP.L Regulatory News (CCAP)

5 Apr 2007 07:01

Charlemagne Capital Limited05 April 2007 5 April 2007 Charlemagne Capital Announces Unaudited Assets under Management for the quarter ended 31 March 2007 Charlemagne Capital Limited ("Charlemagne", or the "Group") sets out below themovements in Assets under Management ("AuM") for the first three months of itscurrent financial year ended 31 March 2007. Group AuM total US$4.75 billion as at 2 April 2007(i) The table below sets out the Group's AuM as at 2 April 2007 and the movementsexperienced in each product range in the period since 2 January 2007. Novy Neft (ii) and other 2 April Movement 2 January 2007 Net reorganisation Net 2007 in AuM subscriptions (iii) performance AuM period (US$m) (US$m) (%) (US$m) (%) (US$m) (%) (US$m) (%) ------------------------------------------------------------------------------------------Magna 1,255 (34) (2.7%) (142) (11.3%) 55 4.7% 1,134 (9.6%)OCCO 333 (2) (0.6%) - - 18 5.4% 349 4.8%Institutional 2,585 (132) (5.1%) 147 5.7% 90 3.5% 2,690 4.1%Specialist 472 109 23.1% (40) (8.5%) 32 6.3% 573 21.4%------------------------------------------------------------------------------------------ Total 4,645 (59) (1.3)% (35) (0.8%) 195 4.2% 4,746 2.2%------------------------------------------------------------------------------------------ Key areas of movement during the quarter included: 1. The launch of Naya Bharat Property Company (Specialist), raising US$57m, and Magna Africa Fund (Magna), raising US$23m. 2. The final liquidation of the Novy Neft (Specialist) product range, leading to net redemptions of US$35m. 3. Transfers totalling US$142m from Magna into new segregated accounts (Institutional) by two of the Group's institutional clients. (i) Data is reported as at the first business day of the following period inorder to capture all subscription and redemption orders placed during the periodbut not processed until the next dealing date for the funds concerned.(ii) Novy Neft and Novy Neft II ("Novy") are Bermudian companies listed on theBermuda Stock Exchange. Novy Neft was launched in November 2003 and Novy Neft IIin February 2004 with the objective of investing in local Gazprom shares viastructured products. In December 2005, and as highlighted at the time of theCharlemagne IPO, Gazprom received legal permission to allow direct foreigninvestment into local Gazprom shares and, as a result, the two funds wererestructured during June 2006. By March 2007, assets within Novy had been fullyredeemed by investors. Novy generated an annual management fee of 1 per cent andno performance fees.(iii) Other reorganization reflects significant movements between categories atthe request of the investing institutions. Enquiries: Charlemagne Capital Tel. 020 7518 2100Jayne Sutcliffe, Chief ExecutiveDavid Curl, Finance Director & Head of Investment Smithfield Consultants Tel. 020 7360 4900John KielyGeorge Hudson This announcement is not for publication or distribution to persons in theUnited 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, asamended). Neither this announcement nor any copy of it may be taken ortransmitted into Australia, Canada or Japan or to Canadian persons or to anysecurities analyst or other person in any of those jurisdictions. Any failure tocomply with this restriction may constitute a violation of United States,Australian, Canadian or Japanese securities law. The distribution of thisannouncement in other jurisdictions may be restricted by law and persons intowhose possession this announcement comes should inform themselves about andobserve any such restrictions. This announcement contains certain forward-looking statements with respect tothe financial condition, results of operations and businesses of the CharlemagneCapital Group. These statements and forecasts involve risk and uncertaintybecause they relate to events and depend upon circumstances that will occur inthe future. There are a number of factors that could cause actual results ordevelopments to differ materially from those expressed or implied by theseforward-looking statements and forecasts. Nothing in this announcement should beconstrued as a profit forecast. This statement is aimed at providing information regarding the Assets underManagement on which revenue is derived by Charlemagne Capital Limited. Theunaudited data contained in this statement are currently provisional and allsuch data are subject to change. This statement is produced in order to providegreater disclosure to investors and potential investors and to ensure that theyall receive equal access to the same information at the same time. This information is provided by RNS The company news service from the London Stock Exchange