<SEC-DOCUMENT>0001140361-14-040222.txt : 20141105
<SEC-HEADER>0001140361-14-040222.hdr.sgml : 20141105
<ACCEPTANCE-DATETIME>20141105101101
ACCESSION NUMBER:		0001140361-14-040222
CONFORMED SUBMISSION TYPE:	13F-HR
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20140930
FILED AS OF DATE:		20141105
DATE AS OF CHANGE:		20141105
EFFECTIVENESS DATE:		20141105

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CHARLEMAGNE CAPITAL LTD
		CENTRAL INDEX KEY:			0001351841
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			Y8
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		13F-HR
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	028-11574
		FILM NUMBER:		141195633

	BUSINESS ADDRESS:	
		STREET 1:		ST. MARY'S COURT
		STREET 2:		20 HILL STREET
		CITY:			DOUGLAS, ISLE OF MAN
		STATE:			Y8
		ZIP:			IM1 1EU
		BUSINESS PHONE:		44 1624 640200

	MAIL ADDRESS:	
		STREET 1:		ST. MARY'S COURT
		STREET 2:		20 HILL STREET
		CITY:			DOUGLAS, ISLE OF MAN
		STATE:			Y8
		ZIP:			IM1 1EU
</SEC-HEADER>
<DOCUMENT>
<TYPE>13F-HR
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
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  <headerData>
    <submissionType>13F-HR</submissionType>
    <filerInfo>
      <liveTestFlag>LIVE</liveTestFlag>
      <flags>
        <confirmingCopyFlag>false</confirmingCopyFlag>
        <returnCopyFlag>true</returnCopyFlag>
        <overrideInternetFlag>false</overrideInternetFlag>
      </flags>
      <filer>
        <credentials>
          <cik>0001351841</cik>
          <ccc>XXXXXXXX</ccc>
        </credentials>
      </filer>
      <periodOfReport>09-30-2014</periodOfReport>
    </filerInfo>
  </headerData>
  <formData>
    <coverPage>
      <reportCalendarOrQuarter>09-30-2014</reportCalendarOrQuarter>
      <filingManager>
        <name>CHARLEMAGNE CAPITAL LTD</name>
        <address>
          <com:street1>ST. MARY'S COURT</com:street1>
          <com:street2>20 HILL STREET</com:street2>
          <com:city>DOUGLAS, ISLE OF MAN</com:city>
          <com:stateOrCountry>Y8</com:stateOrCountry>
          <com:zipCode>IM1 1EU</com:zipCode>
        </address>
      </filingManager>
      <reportType>13F HOLDINGS REPORT</reportType>
      <form13FFileNumber>028-11574</form13FFileNumber>
      <provideInfoForInstruction5>N</provideInfoForInstruction5>
    </coverPage>
    <signatureBlock>
      <name>Jane McAndry</name>
      <title>Managing Director</title>
      <phone>441624640200</phone>
      <signature>/s/ Jane McAndry</signature>
      <city>Douglas</city>
      <stateOrCountry>Y8</stateOrCountry>
      <signatureDate>11-05-2014</signatureDate>
    </signatureBlock>
    <summaryPage>
      <otherIncludedManagersCount>1</otherIncludedManagersCount>
      <tableEntryTotal>72</tableEntryTotal>
      <tableValueTotal>138618</tableValueTotal>
      <isConfidentialOmitted>false</isConfidentialOmitted>
      <otherManagers2Info>
        <otherManager2>
          <sequenceNumber>1</sequenceNumber>
          <otherManager>
            <cik>0001316828</cik>
            <form13FFileNumber>028-11145</form13FFileNumber>
            <name>Charlemagne Capital (IOM) LTD</name>
          </otherManager>
        </otherManager2>
      </otherManagers2Info>
    </summaryPage>
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<DOCUMENT>
<TYPE>INFORMATION TABLE
<SEQUENCE>2
<FILENAME>form13fInfoTable.xml
<TEXT>
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<informationTable xmlns="http://www.sec.gov/edgar/document/thirteenf/informationtable">		<infoTable>
			<nameOfIssuer>21VIANET GROUP INC</nameOfIssuer>
			<titleOfClass>SPONSORED ADR</titleOfClass>
			<cusip>90138A103</cusip>
			<value>3170</value>
			<shrsOrPrnAmt>
				<sshPrnamt>176285</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
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			<votingAuthority>
				<Sole>176285</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ABBOTT LABS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>002824100</cusip>
			<value>213</value>
			<shrsOrPrnAmt>
				<sshPrnamt>5110</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>0</otherManager>
			<votingAuthority>
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				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>ABBVIE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>00287Y109</cusip>
			<value>309</value>
			<shrsOrPrnAmt>
				<sshPrnamt>5332</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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				<None>0</None>
			</votingAuthority>
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		<infoTable>
			<nameOfIssuer>ALIBABA GROUP HLDG LTD</nameOfIssuer>
			<titleOfClass>SPONSORED ADS</titleOfClass>
			<cusip>01609W102</cusip>
			<value>444</value>
			<shrsOrPrnAmt>
				<sshPrnamt>5000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>ALLERGAN INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>184901025</cusip>
			<value>148</value>
			<shrsOrPrnAmt>
				<sshPrnamt>830</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>0</otherManager>
			<votingAuthority>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>AMBEV SA</nameOfIssuer>
			<titleOfClass>SPONSORED ADR</titleOfClass>
			<cusip>02319V103</cusip>
			<value>4225</value>
			<shrsOrPrnAmt>
				<sshPrnamt>643614</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
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			<votingAuthority>
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		<infoTable>
			<nameOfIssuer>AMBEV SA</nameOfIssuer>
			<titleOfClass>SPONSORED ADR</titleOfClass>
			<cusip>02319V103</cusip>
			<value>3020</value>
			<shrsOrPrnAmt>
				<sshPrnamt>459961</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>459961</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMGEN INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>031162100</cusip>
			<value>95</value>
			<shrsOrPrnAmt>
				<sshPrnamt>675</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>0</otherManager>
			<votingAuthority>
				<Sole>675</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AVIANCA HLDGS SA</nameOfIssuer>
			<titleOfClass>SPON ADR REP PFD</titleOfClass>
			<cusip>05367G100</cusip>
			<value>766</value>
			<shrsOrPrnAmt>
				<sshPrnamt>55499</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
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				<Sole>55499</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>AVIANCA HLDGS SA</nameOfIssuer>
			<titleOfClass>SPON ADR REP PFD</titleOfClass>
			<cusip>05367G100</cusip>
			<value>912</value>
			<shrsOrPrnAmt>
				<sshPrnamt>66077</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
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			<votingAuthority>
				<Sole>66077</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
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		<infoTable>
			<nameOfIssuer>BAIDU INC</nameOfIssuer>
			<titleOfClass>SPON ADR REP A</titleOfClass>
			<cusip>056752108</cusip>
			<value>23578</value>
			<shrsOrPrnAmt>
				<sshPrnamt>108039</sshPrnamt>
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			<investmentDiscretion>SOLE</investmentDiscretion>
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				<Sole>108039</Sole>
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				<None>0</None>
			</votingAuthority>
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		<infoTable>
			<nameOfIssuer>BECTON DICKINSON &amp; CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>075887109</cusip>
			<value>120</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1050</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
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		<infoTable>
			<nameOfIssuer>BIOGEN IDEC INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>09062X103</cusip>
			<value>78</value>
			<shrsOrPrnAmt>
				<sshPrnamt>236</sshPrnamt>
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				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>BIOMARIN PHARMACEUTICAL INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>09061G101</cusip>
			<value>48</value>
			<shrsOrPrnAmt>
				<sshPrnamt>664</sshPrnamt>
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			<nameOfIssuer>BOSTON SCIENTIFIC CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>101137107</cusip>
			<value>27</value>
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			<nameOfIssuer>BANCO BRADESCO S A</nameOfIssuer>
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			<cusip>059460303</cusip>
			<value>4354</value>
			<shrsOrPrnAmt>
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			<cusip>059460303</cusip>
			<value>3068</value>
			<shrsOrPrnAmt>
				<sshPrnamt>214780</sshPrnamt>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>BRF SA</nameOfIssuer>
			<titleOfClass>SPONSORED ADR</titleOfClass>
			<cusip>10552T107</cusip>
			<value>2592</value>
			<shrsOrPrnAmt>
				<sshPrnamt>109020</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>0</otherManager>
			<votingAuthority>
				<Sole>109020</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BRF SA</nameOfIssuer>
			<titleOfClass>SPONSORED ADR</titleOfClass>
			<cusip>10552T107</cusip>
			<value>1838</value>
			<shrsOrPrnAmt>
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			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
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				<Sole>77316</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BRISTOL MYERS SQUIBB CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>110122108</cusip>
			<value>227</value>
			<shrsOrPrnAmt>
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			<investmentDiscretion>SOLE</investmentDiscretion>
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			<votingAuthority>
				<Sole>4427</Sole>
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				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CELGENE CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>151020104</cusip>
			<value>167</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1756</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
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			<votingAuthority>
				<Sole>1756</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>COMPANHIA BRASILEIRA DE DIST</nameOfIssuer>
			<titleOfClass>SPN ADR PFD CL A</titleOfClass>
			<cusip>20440T201</cusip>
			<value>2091</value>
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				<Sole>47843</Sole>
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				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>COMPANHIA BRASILEIRA DE DIST</nameOfIssuer>
			<titleOfClass>SPN ADR PFD CL A</titleOfClass>
			<cusip>20440T201</cusip>
			<value>1735</value>
			<shrsOrPrnAmt>
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			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>39710</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>COPA HOLDINGS S</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>P31076105</cusip>
			<value>1035</value>
			<shrsOrPrnAmt>
				<sshPrnamt>9624</sshPrnamt>
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			<investmentDiscretion>SOLE</investmentDiscretion>
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				<Sole>9624</Sole>
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			</votingAuthority>
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		<infoTable>
			<nameOfIssuer>COPA HOLDINGS S</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>P31076105</cusip>
			<value>1131</value>
			<shrsOrPrnAmt>
				<sshPrnamt>10515</sshPrnamt>
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			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>10515</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>COSAN LTD</nameOfIssuer>
			<titleOfClass>SHS A</titleOfClass>
			<cusip>G25343107</cusip>
			<value>477</value>
			<shrsOrPrnAmt>
				<sshPrnamt>44520</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>0</otherManager>
			<votingAuthority>
				<Sole>44520</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CREDICORP LTD</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G2519Y108</cusip>
			<value>2170</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14156</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>0</otherManager>
			<votingAuthority>
				<Sole>14156</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CREDICORP LTD</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G2519Y109</cusip>
			<value>2225</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14517</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>14517</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CUBIST PHARMACEUTICALS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>229678107</cusip>
			<value>41</value>
			<shrsOrPrnAmt>
				<sshPrnamt>612</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>0</otherManager>
			<votingAuthority>
				<Sole>2700</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>STRYKER CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>863667101</cusip>
			<value>85</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1047</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>0</otherManager>
			<votingAuthority>
				<Sole>1047</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TAL ED GROUP</nameOfIssuer>
			<titleOfClass>ADS REPSTG COM</titleOfClass>
			<cusip>874080104</cusip>
			<value>5928</value>
			<shrsOrPrnAmt>
				<sshPrnamt>169521</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>0</otherManager>
			<votingAuthority>
				<Sole>169521</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>THERAVANCE BIOPHARMA INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G8807B106</cusip>
			<value>101</value>
			<shrsOrPrnAmt>
				<sshPrnamt>4340</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>0</otherManager>
			<votingAuthority>
				<Sole>4340</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>THERAVANCE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>88338T104</cusip>
			<value>78</value>
			<shrsOrPrnAmt>
				<sshPrnamt>4532</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>0</otherManager>
			<votingAuthority>
				<Sole>4532</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>THERMO FISHER SCIENTIFIC INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>883556102</cusip>
			<value>247</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2020</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>0</otherManager>
			<votingAuthority>
				<Sole>2020</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ULTRAPAR PARTICIPACOES S A</nameOfIssuer>
			<titleOfClass>SP ADR REP COM</titleOfClass>
			<cusip>90400P101</cusip>
			<value>1892</value>
			<shrsOrPrnAmt>
				<sshPrnamt>89622</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>0</otherManager>
			<votingAuthority>
				<Sole>89622</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>VALE S A</nameOfIssuer>
			<titleOfClass>ADR</titleOfClass>
			<cusip>91912E105</cusip>
			<value>2354</value>
			<shrsOrPrnAmt>
				<sshPrnamt>214128</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>0</otherManager>
			<votingAuthority>
				<Sole>214128</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>VALE S A</nameOfIssuer>
			<titleOfClass>ADR</titleOfClass>
			<cusip>91912E105</cusip>
			<value>1363</value>
			<shrsOrPrnAmt>
				<sshPrnamt>123912</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>DFND</investmentDiscretion>
			<otherManager>1</otherManager>
			<votingAuthority>
				<Sole>123912</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
</informationTable>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>