Ashmore reports rise in assets under administration

Emerging markets asset manager reveals AUM were up during the last three months thanks to net inflows of US$600m (£370m) and positive investment performance of US$500m (£310m).

In a statement to the stock exchange, Ashmore reported net inflows were strongest in blended debt, with corporate debt and external debt also generating net inflows.

Multi-strategy and local currency saw modest net outflows and smaller net outflows were seen in the equities and overlay/liquidity themes.

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Equities and external debt contributed the most to investment performance during the quarter with other themes broadly flat.

Mark Coombs, chief executive of Ashmore Group, said: “Ashmore has continued to deliver net inflows during its first quarter, which is traditionally quieter and this year saw more volatile markets.

“Although emerging market asset prices recovered in September, valuations across equity and fixed income markets remain attractive, particularly when compared to developed market alternatives that continue to face uncertainty owing to numerous economic and fiscal challenges.

“We therefore remain optimistic about the diverse range of emerging market investment opportunities that we can access on behalf of clients.”