Assets at Charlemagne Capital, the London-listed emerging markets fund manager, rose 15.4% to $5.1bn (€3.8bn) in the three months to October 1, as investors shifted money away from developed economies hit by the fallout from the US sub-prime mortgage sector.

Most of the growth came in Charlemagne's institutional business, with four mandate wins totalling $312m (€231m) since the start of January. Flows to its retail funds and hedge funds were also positive.