Charlemagne saw AuM grow by 6.3% during Q1. Recovering asset prices were the key driver. AuM benefited from an Eastern European bias where performance was stronger than the wider emerging market space. Flows remained positive albeit market volatility in the early part of Q1 caused some pressure. We make no changes to our forecasts at this early stage in the year. We note that Charlemagne has significant cash/liquid assets on the balance sheet equating to 57% of market cap. On EV/AuM, the shares ....
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AuM grows in Q1 on recovering asset prices
- Published:
11 Apr 2016 -
Author:
Andrew Watson -
Pages:
4
Charlemagne saw AuM grow by 6.3% during Q1. Recovering asset prices were the key driver. AuM benefited from an Eastern European bias where performance was stronger than the wider emerging market space. Flows remained positive albeit market volatility in the early part of Q1 caused some pressure. We make no changes to our forecasts at this early stage in the year. We note that Charlemagne has significant cash/liquid assets on the balance sheet equating to 57% of market cap. On EV/AuM, the shares ....