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Trading statements

Ashmore AUM up 7%

18 April 2017 07:21

Ashmore Group's assets under management rose to an estimated $55.9bn at the end of March - 7% up from the end of December.

The specialist emerging markets asset manager said assets under management increased by US$3.7bn during the period, comprising positive investment performance of US$2.3bn and net inflows of US$1.4bn.

Net inflows were driven by an increase in the level of gross subscriptions, through both new mandates and incremental allocations from existing clients, and a reduction in redemptions.

It said net inflows were experienced in the overlay/liquidity, local currency, external debt and corporate debt themes.

Net flows into equities and alternatives were flat, while blended debt and multi-asset experienced net outflows over the period.

Chief executive Mark Coombs said: "Ashmore delivered the anticipated return to net inflows this quarter, generated from a diverse range of existing and new clients, and the Group's investment processes are continuing to deliver strong performance over one, three and five years.

"The outperformance of Emerging Markets reflects accelerating economic growth and attractive absolute and relative valuations across Emerging Markets equity and fixed income markets.

"This increases the pressure on investors to address their underweight allocations."

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