Charlemagne assets rise 28 percent

LONDON (Reuters) - Fund house Charlemagne Capital, which focuses entirely on emerging markets, said on Thursday that assets under management had risen by 28.2 percent in the second quarter to $2.4 billion at end-June.

Assets were up 9.0 percent since the start of the year. The group said there had been good recovery in emerging markets in the first half following the very sharp falls of the second half of 2008.

"Our discussions with investors and their advisers indicate that strategic asset allocation will increasingly focus on emerging markets," it said.

Net management fees were $8.2 million, down from $25.1 million for the first six months of 2008, which Charlemagne (CHAR.L) said reflected the lower average AUM in the first half of 2009.