UK-headquartered asset management group Charlemagne Capital’s operating profits fell, in the year to the end of December 2012, to US$5.1 million, a decrease from US$6.1million in 2011.
The fall in Charlemagne’s operating profits came despite a rise in its assets under management (AUM), to US$2.63 billion, which is up from US$2.33 billion in the year-ago period.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Total revenue for the year also rose to US$30.7 million from US$27.8 million a year ago, including management fees of US$20.5 million and performance fees and other income of US$10.2 million.
Chief executive, Jayne Sutcliffe, said: "In 2012 emerging markets moved back into the global spotlight, outperforming developed markets for the first time in two years. As confidence returned to the sector, investors demonstrated an increased appetite for equity risk.
"Inflows during the second half of the year were particularly pleasing and we are glad to see this momentum continuing into 2013 with assets under management rising to US$2.72 billion as at 28 February 2013.
"Our aim is to invest in quality companies with sustainable growth at reasonable valuations. For this, we look at opportunities across all regions, sectors and market capitalisations to provide strong, risk adjusted returns.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData"Throughout a challenging period, we have continued to remain focussed on our core expertise and specialisation. Investment resource has been enhanced while fixed costs have been reduced.
"We remain financially strong, with significant cash resources and no debt. This provides us with a great deal of security and, as global emerging markets continue to recover, we maintain a confident outlook for the remainder of 2013."
