Ashmore puts in solid Q1 performance on emerging market strength

(Sharecast News) - Emerging market asset manager Ashmore reported a 5% increase in assets under management (AuM) in the firrst quarter, helped by a positive investment performance and increasing investor appetite.

AuM totalled $51.8bn by 30 September, up $2.5bn over the three-month period, comprising positive investment performance of $3.2bn and net outflows of $0.7bn.

Fixed income AuM rose by 5% to $43.3bn, with growth registered across markets in external debt, local currency, corporate debt and blended debt.

AuM in Equities rose 9% to $7.3bn, while Alternatives AuM fell 8% to $1.2bn.

"Emerging markets performed well over the quarter, reflecting robust macroeconomic conditions in emerging countries, the positive impact of lower Fed rates weakening the US dollar, and targeted stimulus by the Chinese authorities," said chief executive Mark Coombs.

"Consequently, investor appetite has been increasing and allocations to emerging markets should grow from the low current levels to capture the value available across equity and fixed income asset classes."

Coombs said that the company is "well-positioned" to benefit from improving momentum in client flows to emerging markets.