Charlemagne Capital (IOM) Limited has been appointed by the Fund as Investment Manager to manage its investments subject to the overall supervision of the Directors. The Investment Manager is incorporated in the Isle of Man and is part of the Charlemagne Capital Group of companies which includes the Share Distributor and the Company Secretary. It is licensed to conduct investment business by the Isle of Man Financial Supervision Commission and is registered as an investment adviser with the Securities Exchange Commission.
The Charlemagne Capital Group is an international emerging markets investments group with offices in the Isle of Man and London. The shares of the Charlemagne Capital Group parent, Charlemagne Capital Limited, are listed on the AIM Market of the London Stock Exchange. The Charlemagne Capital Group has two principal investment operations, being public and private equity. As at 31 March 2014 the Charlemagne Capital Group had c.US$2.6 billion of assets under management. The officers of Charlemagne Capital (IOM) Limited have extensive experience in the management of alternative investment products with global mandates and have been involved in managing portfolios of both open end and closed end funds since 1991.
The biographies of the key principals of the Investment Manager are as follows:
Michael Russell (British) is a qualified accountant (CIMA) with over 25 years’ experience in the property industry working at board level as CFO or CEO for both listed and non-listed companies. Prior to joining Charlemagne Capital, Michael worked for Jones Lang LaSalle as part of its private equity team in London, as investment manager to eight property funds with investments in the UK and Europe and was responsible for the successful launch of a £35 million UK focused property development fund with investor backing from the Middle East. Prior to Jones Lang LaSalle, Michael was CEO for two years and CFO for five years of Chelsea Village plc, the AIM listed owner of Chelsea Football Club at which Michael led the team which achieved a listing for the company and subsequently raised £75.0 million in a First Mortgage Debenture Bond, the first of its type in the industry to enable the company to develop the facilities at Stamford Bridge. Michael joined Charlemagne Capital in May 2009 and has overseen the introduction of three new funds, one in China and two in Brazil and six investments in Nanjing, China, Maceio and Salvador in Brazil and Iasi, Ordea and Sibui in Romania, whilst at the same time overseeing the previous developments in Eastern Europe and China.
Jane McAndry is Managing Director of the Investment Manager and is also a Director of Charlemagne Capital Limited. Mrs McAndry joined the Charlemagne Capital as a director of Charlemagne Capital (IOM) Limited in July 2007. She was appointed Group Company Secretary in August 2007 and a director of Charlemagne Capital Limited in February 2008. She became managing director of the Group's Isle of Man subsidiaries from 1 April 2009. Jane previously spent seven years in senior roles, ultimately as Head of the Legal and Policy Unit, with the Isle of Man Financial Supervision Commission. Prior to that, she was legal director of Intertrust (Isle of Man) Limited, part of an international tax planning and fiduciary services group. Jane began her legal career in Edinburgh, where she qualified as a Scottish solicitor, and has wide ranging legal experience.
Lloyd Jones (executive director) joined Charlemagne as Chief Financial Officer in 2010. He is a Chartered Accountant (FCA) and has an MBA in Finance; he also has extensive financial and operational expertise at a senior level, most recently as Finance Director and Head of Operations at Nedgroup Investments (IOM) Limited.