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TOP NEWS: Ashmore Assets Under Management Rises In Third Quarter

LONDON (Alliance News) - FTSE 250-listed Ashmore Group PLC said on Tuesday its assets under ...

Alliance News 17 April, 2018 | 9:35AM
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LONDON (Alliance News) - FTSE 250-listed Ashmore Group PLC said on Tuesday its assets under management rose by 10% over the third quarter of its financial year, through a positive net investment performance and net inflows.

The emerging markets-focused asset manager reported it had total assets under management as at the end of March of USD76.5 billion, up 10% from USD69.5 billion at the end of 2017, with a positive investment performance of USD600.0 million and net inflows of USD6.4 billion.

Net inflows in the quarter were driven by continued investor demand for Emerging Markets assets, with the strongest net flows coming from the local currency, blended debt and corporate debt, the investment company said.

Ashmore produced a positive investment performance despite volatile market conditions, it sad, with local currency and blended debt portfolio performing strongly, while external debt and corporate debt performed in line.

"Over the medium to longer term, positive investor sentiment towards Emerging Markets will continue to be supported by attractive valuations, the need for institutional investors to address underweight allocations, better earnings and credit fundamentals, and relative currency strength arising from further US dollar weakness," said Chief Executive Officer Mark Coombs.

"Significantly, the increased market volatility experienced over the past three months has had little effect on the fundamental drivers of returns in Emerging Markets and, as expected, both Emerging Markets fixed income and equity markets have outperformed," Coombs added.

Shares in Ashmore Group were up 6.2% at 420.60 pence on Tuesday.

By Dayo Laniyan; dayolaniyan@alliancenews.com

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar
Rating
Ashmore Group PLC 409.17 GBX -1.17 -
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