Ashmore sees inflows despite negative performance

Rio de JaneioroDespite negative investment performance, resulting in a $4.8 billion (€3.7 billion) loss, emerging market specialist Ashmore says its assets under management remain substantially unchanged during the last quarter because of $4.5 billion net inflows.

Its estimated assets under management stood at $77.4 billion at the end of June.

Assets in Ashmore’s multi-strategy fell by 32% quarter-on-quarter, while assets in corporate debt strategies rose by 29.8% and alternatives 17.4%.

The equities and overlay/liquidity themes experienced modest net outflows.

According to the fourth quarter assets under management statement, investment performance was negative in all themes except alternatives, and particularly in local currency, blended debt and external debt.

Mark Coombs, chief executive officer, Ashmore Group, says market conditions were “clearly more challenging towards the end of the quarter” but insists the fundamentals remain attractive.

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