10th Oct 2013 07:08
LONDON (Alliance News) - Ashmore Group PLC Thursday said its assets under management increased over the first quarter thanks to a combination of net inflows and a return on investments.
Ashmore Group said its assets under management increased to USD78.5 billion on September 30, up from USD77.4 on June 30, while continuing to perform in line with management expectations.
The specialist emerging markets asset manager said the increase was a result of net inflows of USD600 million and positive investment performance of USD500 million.
"Ashmore has continued to deliver net inflows during its first quarter, which is traditionally quieter and this year saw more volatile markets. This reflects the long-term investment approach taken by the Group's predominantly institutional clients," the company said in a statement.
Ashmore said the net inflows were strongest in blended debt, with corporate debt and external debt also generating net inflows. However, it pointed out that during the quarter USD1.1 billion was reclassifed as blended debt from external debt, which was down to a change in investment guidelines, including the benchmark for those assets.
Ashmore share Wednesday closed at 392.2 pence, unchanged.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2013 Alliance News Limited. All Rights Reserved.
Related Shares:
Ashmore