NEW YORK (–Emerging markets specialist Charlemagne Capital, London, stopped taking subscriptions for its long/short OCCO Eastern Europe Fund, in recognition of the liquidity constraints on the short side in those markets.

“We decided it was prudent to close the fund at a point where we felt confident that we can continue to manage the fund with the same successful strategy employed so far,” commented Charlemagne director of portfolio management, Stefan B?? 1/2 ttcher, in a statement.

The hedge fund, launched Dec. 31, 2001, closed with US$115 million, after returning 20.6% in 2004.

Charlemagne also manages a long/short Asia fund and general emerging markets fund. These three hedge funds account for US$210 million out of the firm’s US$2.3 billion total assets.

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