Emerging Markets  

Ashmore assets up 11.2% in Q1

Ashmore assets up 11.2% in Q1

Ashmore Group’s assets under management grew by $8.6bn (£6.6bn) in the first three months of 2019 (Ashmore's Q3 reporting quarter), according to its latest trading update. 

The emerging markets specialist saw net inflows of $5bn (£3.8bn) and positive investment performance of $3.6bn (£2.75bn) in the period to March 31. 

Corporate debt was the most popular, with assets under management for this asset class rising 30.6 per cent in the first quarter. Multi asset was also boosted during the period, as assets grew by 25 per cent from $0.4bn (£0.3bn) to $0.5bn (£0.4bn).

Blended debt remained the group's largest area, with assets under management at the end of March at $22bn (£16.8bn) compared with $20.4bn (£15.6bn) at the end of 2018. 

According to the group, absolute performance levels were highest in the blended debt and external debt themes, and despite US dollar strength in the latter part of the period, local currency and equities delivered good returns over the three months. 

Corporate debt and multi-asset also produced positive performance, Ashmore stated, adding that its relative investment performance remained strong over three and five years.

Mark Coombs, chief executive officer, Ashmore, said: "Client activity levels picked up through the quarter following a slight pause at the end of 2018.

"This reflects a number of ongoing positive factors including investors' light positioning in emerging markets, the significant value available across a diverse range of investment themes, and slowing growth and political challenges in the developed world. 

"The increasing diversity of Ashmore's product range enables flows to be captured at different points in the cycle.

"These factors, together with the delivery of strong performance across the investment themes, mean Ashmore is well-positioned for continued growth."