Ashmore reports decline in AUM over last quarter

Emerging markets asset manager Ashmore Group has seen a decline in its assets under management (AUM) over the last quarter, with outflows of $2.6 billion (€2.4 billion).

The firm’s AUM declined from $63.7 billion to $61.1 billion, through a combination of net outflows of $2.0 billion and negative investment performance of $0.6 billion.

Small outflows were seen across a range of themes. The AUM in local currency, corporate debt, and blended debt each saw a decline of $0.6 billion between the end of December 2014 and the end of March 2015, while alternatives saw the greatest percentage of outflows, from $1.3 billion to $0.9 billion, or -30.8%.

The AUM in equities remained stable at $4.3 billion, while the overlay/liquidity theme saw a small uptick.

The firm comments that fixed income and equity markets have seen some recovery in the quarter, though local currency returns continue to be affected by the strengthening of the US dollar, affecting investment performance.

Mark Coombs, chief executive officer, Ashmore Group, says: “Those investors willing to look beyond short-term price volatility and to focus on fundamentals are benefiting from the recent recovery in markets.

However, some investors remain cautious given continued uncertainties such as the timing and impact of higher US interest rates.

“Ashmore’s investment processes are delivering alpha as expected after buying into risk at lower market levels. In our experience, while flows tend to lag investment performance, the absolute and relative value opportunities across the range of emerging markets asset classes will increasingly be recognised by investors.”

©2015 funds europe

HAVE YOU READ?

THOUGHT LEADERSHIP

The tension between urgency and inaction will continue to influence sustainability discussions in 2024, as reflected in the trends report from S&P Global.
FIND OUT MORE
This white paper outlines key challenges impeding the growth of private markets and explores how technological innovation can provide solutions to unlock access to private market funds for a growing…
DOWNLOAD NOW

LATEST SURVEY

Visit our dedicated Ireland channel for all the latest news and analysis on the country's investment industry.
READ MORE

PRIVATE MARKETS FUND ADMIN REPORT

Private_Markets_Fund_Admin_Report

LATEST PODCAST