Charlemagne AUM rises 14% in 2010

Charlemagne Capital saw its assets under management rise by 26.1% since June and 14.1% over the full year to $3.5 billion (£2.3 billion).

Its total revenue for the 12 months ending December 2010 was $28.3m, an increase of 18.9%. In addition, it had additional non-recurring net income of $3.8m.

Charlemagne Capital paid an ordinary interim dividend of 0.4 cents in 2010 and 0.6 cents in 2009. It also paid a special interim dividend of 1.1 cents in 2010 and 0.75 cents in 2009.

The directors have adopted a dividend and capital return policy seeking to reflect the long-term earnings and cash flow potential of the group. (article continues below)

Buying back shares for cancellation is one of the mechanisms by which they have sought to manage the capital structure and return surplus capital to shareholders.

However, during year ending December 2010, the directors have not considered it to be appropriate to repurchase any shares.

Overall, Charlemagne Capital maintained financial strength, with cash balances held of $24m.