CCAP.L Regulatory News (CCAP)

10 Apr 2006 07:02

Charlemagne Capital Limited10 April 2006 10 April 2006 Quarterly Update Group Assets under Management total US$5.2 billion as at 31 March 2006 Charlemagne Capital Limited ("Charlemagne", the "Group") sets out below theGroup's Assets under Management ("AuM") as at 31 March 2006 and the movementsexperienced in each fund group in the period since 31 December 2005. 31 December Net Net 1 April Movement 2005 subscriptions performance 2006 in period-------------------------------------------------------------------------------- AuM (US$m) (US$m) (%) (US$m) (%) AuM (US$m) (%) Magna 987 100 10.1% 113 11.5% 1,200 21.6%OCCO 254 104 40.8% 8 3.1% 366 43.9%Institutional 1,998 431 21.6% 242 12.1% 2,671 33.7%Specialist 844 (28) (3.3)% 140 16.6% 956 13.3%--------------------------------------------------------------------------------Total 4,083 607 14.9% 503 12.3% 5,194 27.2%-------------------------------------------------------------------------------- Since 31 December 2005, Group AuM has grown by US$1,111 million or 27.2% ofGroup AuM. This growth is comprised of a combination of positive net flows intoGroup funds of US$607 million and market performance of US$503 million. The movement in Group AuM since 1 March 2006 is set out below. This shows themovement in Group AuM by fund group in the period since the data published inthe AIM Admission Document dated 30 March 2006. 1 March Net Net 1 April Movement 2006 subscriptions performance 2006 in period ------------------------------------------------------------------------------- AuM (US$m) (US$m) (%) (US$m) (%) AuM (US$m) (%) Magna 1,276 (37) (2.9)% (39) (3.0)% 1,200 (5.9)%OCCO 347 21 5.9% (1) (0.3)% 366 5.7%Institutional 2,713 73 2.7% (115) (4.2)% 2,671 (1.6)%Specialist 939 (10) (1.1)% 28 2.9% 956 1.9%------------------------------------------------------------------------------- Total 5,274 47 0.9% (127) (2.4)% 5,194 (1.5)%------------------------------------------------------------------------------- Since 1 March 2006, Group AuM has declined by US$80 million or 1.5% of GroupAuM. This is comprised of a combination of positive net subscriptions into Groupfunds of US$47 million and a negative fund performance of US$127 millionresulting from declining equity prices across the markets in which the Group'sfunds are invested. "March saw another of the temporary corrections that have occurred in emergingmarkets over the last three years", said David Curl, Finance Director and Headof Investment. "Within Charlemagne's favoured markets, the correction wasespecially sharp in Turkey as the index fell by over 10% in dollar terms. Thismarket has performed very well in the last year and we continue to find valueopportunities. Charlemagne's diversification, however, meant the impact on GroupAuM was muted. Overall, we are optimistic on the outlook for emerging markets asa whole". Jayne Sutcliffe, Chief Executive commented: "We are pleased to see continued,strong fund flows into both our institutional and OCCO fund ranges. Given thenegative market performance in March, the limited level of net outflows from theMagna fund range is not unusual. "Looking at the first quarter as a whole, the business continues to deliverstrong levels of inflows with AuM having grown over 25% since the beginning ofthe year with over 50% of this growth having been derived from net inflows. Webelieve that Charlemagne is well positioned to deliver future growth." Enquiries Charlemagne Capital 020 7518 2100Jayne Sutcliffe, Chief ExecutiveDavid Curl, Finance Director & Head of Investment Smithfield Consultants 020 7360 4900John KielyGeorge Hudson This announcement contains certain forward-looking statements with respect tothe financial condition, results of operations and businesses of CharlemagneCapital Limited. 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. Notes to Editors: Charlemagne Capital is a specialist emerging markets equity investment manager.The Group was admitted to the Alternative Investment Market of the London StockExchange on 4 April 2006. Charlemagne's product range comprises mutual funds, hedge funds andinstitutional and specialist fund products primarily covering GEMs, EasternEurope, Latin America and Asia. Charlemagne Capital employs a range ofinvestment strategies including: long only, long/short, structured products andprivate equity. Charlemagne Capital's funds aim to exploit the inefficiencies inthe market via a strict bottom up approach and focused stock selection. Through the strong long-term investment performance track record of itsprincipal funds, Charlemagne Capital has established itself as a market leaderin emerging markets investment management. Its performance has been recognisedthrough numerous awards and top rankings for its funds, including the 2005Standard and Poor's 5-year best performing fund award in Austria, the 2006 SwissLipper Leaders 5-year award winner for Emerging Markets Europe and an AAA-ratingby Standard & Poor's for its Magna Eastern European sub-fund. This information is provided by RNS The company news service from the London Stock Exchange