Revenues at Charlemagne Capital, an emerging-markets specialist fund manager, fell nearly 10% in the first half of this year to $18.9m (€13.8bn) after suffering net redemptions in its institutional and retail funds, despite nearly doubling performance fees during the period.

Charlemagne Capital, an emerging markets-specialist fund manager, suffered net redemptions in its institutional and retail funds over the first seven months of the year, but compensated through performance,