Ashmore benefits from partial recovery in EM funds

Emerging markets signA partial recovery in emerging market asset prices helped Ashmore Group, a specialist emerging market investor, achieve a rise in

assets under management of $1.1 billion (€810 million) in the quarter ending September 30.

Net inflows accounted for $0.6 billion of the gains and positive performance accounted for the rest. The firm says blended, corporate and external debt attracted the highest net inflows.

“A recovery in emerging market asset prices in September helped drive positive investment performance of $0.5 billion,” says Jonathan Goslin, analyst at Edison Investment Research.

“Ashmore continues to find valuations across EM equity and fixed income markets attractive, especially relative to their developed peers, which should provide support for further net inflows into emerging markets."

Ashmore says its multi-strategy and local currency strategies saw modest net outflows, with smaller net outflows from equities and overlay/liquidity themes.

Mark Coombs, chief executive officer, says the firm remains optimistic about the emerging market investment opportunities it can access for clients.

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