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.
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
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.