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Exclusive: AAA-rated PM exits boutique

Exclusive: AAA-rated PM exits boutique

Citywire AAA-rated Akhilesh Baveja has left Charlemagne Capital, Citywire Selector can exclusively reveal.

Baveja, who managed the €30 million Magna Mena fund at the firm, has left the UK-based boutique to pursue other opportunities, the company has confirmed.

Baveja has emerged as one of the top Mena-focused managers in the Citywire database and has also been consistently AAA-rated since 2014 for his risk-adjusted returns. 

His move sees AAA-rated duo Dominic Bokor-Ingram and Stefan Böttcher assigned to take over the management of the fund, which came into effect on November 2 2017.

The two managers currently run the €479 million Magna New Frontiers and the Charlemagne OAKS Emerging and Frontier Opportunities funds.

Commenting on the change, Charlemagne Capital’s president and CEO, Jayne Sutcliffe said: 'Charlemagne’s Magna MENA fund has been an exceptional performer over recent years.

‘We are confident that Bokor-Ingram and Böttcher, with their excellent track record and the continued support from our team of highly rated analysts, will add further impetus to the fund.'

Baveja boasts an impressive ratings history

 

2014

  • ARated AAA in Apr 2014
  • MRated AAA in May 2014
  • JRated AAA in Jun 2014
  • JRated AAA in Jul 2014
  • ARated AAA in Aug 2014
  • SRated AAA in Sep 2014
  • ORated AAA in Oct 2014
  • NRated AAA in Nov 2014
  • DRated AAA in Dec 2014

2015

  • JRated AAA in Jan 2015
  • FRated AAA in Feb 2015
  • MRated AAA in Mar 2015
  • ARated AAA in Apr 2015
  • MRated AAA in May 2015
  • JRated AAA in Jun 2015
  • JRated AAA in Jul 2015
  • ARated AAA in Aug 2015
  • SRated AAA in Sep 2015
  • ORated AAA in Oct 2015
  • NRated AAA in Nov 2015
  • DRated AAA in Dec 2015

2016

  • JRated AAA in Jan 2016
  • FRated AAA in Feb 2016
  • MRated AAA in Mar 2016
  • ARated AAA in Apr 2016
  • MRated AAA in May 2016
  • JRated AAA in Jun 2016
  • JRated AAA in Jul 2016
  • ARated AAA in Aug 2016
  • SRated AAA in Sep 2016
  • ORated AAA in Oct 2016
  • NRated AAA in Nov 2016
  • DRated AAA in Dec 2016

2017

  • JRated AAA in Jan 2017
  • FRated AAA in Feb 2017
  • MRated AAA in Mar 2017
  • ARated AAA in Apr 2017
  • MRated AAA in May 2017
  • JRated AAA in Jun 2017
  • JRated AAA in Jul 2017
  • ARated AAA in Aug 2017
  • SRated AAA in Sep 2017
  • ORated AAA in Oct 2017
  • NRated AAA in Nov 2017
 

Over the three years to the end of November 2017 the Charlemagne Magna Mena fund returned 33.9% in US dollar terms.

This compares with a 10.42% drop by its Citywire-assigned benchmark, the S&P Pan Arab Composite TR, over the same time period.

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