Charlemagne Capital AUM down 10.8%

Charlemagne Capital AUM down 10.8%

Assets under management (AUM) at Charlemagne Capital fell 10.8 per cent to $1.9bn (£1.2bn) in the third quarter to September 30 2015.

In its third quarter AUM update, the asset management group said flows into its fund groups were net positive overall during the period and blamed the negative performance of markets for the decline in assets.

The group, which specialises in emerging markets, pointed out the MSCI Emerging Markets index was down 17.9 per cent on a US dollar net basis in the third quarter.

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Its Magna range of Ucits long-only funds saw assets under management decrease 15.9 per cent to $528m.

The group previously reported that in the six months to June 30, group AUM was $2.1bn, down 7.3 per cent since the start of the year.