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Charlemagne bolsters EM fund range with new launch

Charlemagne bolsters EM fund range with new launch

Charlemagne Capital has expanded its reach in the emerging markets sector with a new addition to its Dublin-domiciled fund range, Citywire Selector can reveal.

Officially launched May 3 2017, the Ucits-compliant fund is managed by Mark Bickford-Smith, who also runs the Charlemagne Magna Emerging Markets Dividend strategy at the firm.

The Magna Emerging Markets fund was previously only available for institutional investors within segregated accounts and can now be accessed by European and North American investors.

Over three years, the strategy outperformed the benchmark index (MCSI Emerging Markets Index) by 3.7% on an annualised basis, over five years it achieved an outperformance of 3.0%.

The fund has a focused portfolio of 45-55 stocks with an average return on equity of 17.7%, compared to 12.5% for the market.

Meanwhile, 34.5% of the portfolio is invested in small and medium-sized companies and 27.7% of the fund is invested in off-benchmark holdings.

Commenting on the launch, Charlemagne Capital’s senior vice president and investment strategist, Julian Mayo said: 'With this launch, we are making our market-outperforming core strategy available to a much broader group of investors, through a mutual fund structure, across a wider number of geographies.

'Investors, including family offices and discretionary managers, will now be able to benefit from a strategy that has performed incredibly well for institutions over the last five years.

'This comes as the outlook for emerging markets has considerably improved and investors are now looking to capitalise on its long-term recovery trend.'

The fund already has $29 million of assets under management and the current AUM in the wider strategy is approximately $400 million.

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