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Charlemagne launches MGEM Sterling share class


Charlemagne Capital has launched a Sterling share class for its Magna Global Emerging Markets Fund (MGEM).


The Sterling denominated B Shares will seek to obtain distributor status on an annual basis and the minimum investment is GBP 10,000. MGEM, which ranks in the top ten per cent of global emerging markets funds, is part of the Magna Umbrella Fund plc, an Irish UCITS fund.


"This is an important step for Charlemagne Capital," says Julian Mayo, investment director at Charlemagne Capital (UK) Ltd. "The Fund has achieved good growth in the last two years, in terms of both assets and performance. We now intend to make this available to UK investors and others looking for a Sterling-denominated fund. We will also consider Sterling classes for other sub-funds in the Magna range if there is sufficient client interest."


Background notes: Charlemagne Capital is an independent specialist emerging markets investment management company, with around GBP 2bn under management. The Magna Global Emerging Markets Fund is ranked 31 out of 389 global emerging markets funds according to Standard & Poor's from 1 August 2003 to 3 October 2005. The Magna Fund range consists of the Magna Global Emerging Markets, Eastern European, Russia, Latin American, Turkey and Greater China Funds. These Funds are actively managed using Charlemagne Capital's disciplined bottom up investment process.


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