Ashmore Group, the emerging markets asset manager, has reported a $2.2bn (£1.4bn) fall in assets to $58.9bn in the three months to June 30 2015.
In its latest trading statement the group noted the fall was “influenced by a small number of relatively large and lower revenue margin redemptions in blended debt and equity”.
Ashmore noted that emerging markets had performed well in the quarter compared to developed markets and it had generated good performance in its blended debt and corporate debt strategies, while external debt and multi-strategy offerings had delivered positive returns.
But Mark Coombs, chief executive of Ashmore Group, noted: “A broad-based improvement in sentiment and activity levels continues to be held back by uncertainty regarding factors such as the timing and impact of US rate increases”.
“We expect that once there is greater clarity, the fundamental qualities of emerging markets coupled with the inherent value that remains apparent today will lead to higher levels of client activity and increased allocations,” he added.
