Ashmore Assets Rise 9.1% in Fiscal Third Quarter on Investments
Ashmore Group Plc (ASHM), a U.K. fund manager that invests in emerging markets, said assets under management increased 9.1 percent in the fiscal third quarter to $65.9 billion as markets advanced.
Net inflows from clients in the period added $1.2 billion to funds under management for the period ending March 31 and $4.3 billion came from investment performance, the London-based company said in a statement today. The firm said it is performing “in line” with management’s expectations.
“Consistent with Ashmore’s long standing investment approach of adding risk during periods of market volatility such as that experienced in our first half, all investment themes have subsequently delivered positive investment performance in what has been a strong third quarter,” Ashmore said in the statement.
Ashmore, which has almost half of its assets invested in emerging-market debt, has risen 16 percent in London trading this year. The firm’s flagship Emerging Markets Liquid Investment Portfolio (ASHEMLI) fund, with $3.9 billion of assets, is up 6.8 percent this year, according to data compiled by Bloomberg.
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