14th Jul 2021 09:35
(Alliance News) - Ashmore Group PLC on Wednesday reported growth in assets under management, rounding off its financial year strongly.
Assets under management stood at USD94.4 billion on June 30, up 5.0% from USD89.9 billion at the end of March, the emerging markets-focused asset manager said. Compared to a year earlier, assets under management are 13% higher.
The USD4.5 billion rise in AUM over the recent three months, Ashmore's financial fourth quarter, was made up of USD 1.1 billion in net inflows and USD3.4 billion in positive investment performance, it said.
"The net inflows in the quarter were driven by institutional clients and included a combination of new mandates, particularly in the overlay, equities and external debt themes, and additional allocations to existing funds across the fixed income and equities investment themes," Ashmore explained.
"Emerging markets performed well over the three months and recovered most of the drawdown from the previous quarter."
In the third quarter, assets under management had slip 3.3% quarter-on-quarter.
The company will report on its annual results on September 3.
Ashmore shares were 0.9% lower at 405.40 pence each in London on Wednesday morning.
By Eric Cunha; [email protected]
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