Ashmore funds jump 25%

15th Oct 2009 10:37

A strong bounce in its bonds and currency hedging funds lifted emerging markets fund manager Ashmore's funds under management by 25% in the past three months, sending its share sharply higher. In the three months to September managed assets rose to $31.1bn, reflecting net inflows of $3.6bn and an increase in the value of its portfolios of $2.6bn. External debt funds under management rose 20% from $14.7bn to $17.6bn. Local currency rose by 26% $5.3bn, while corporate high yield funds rose 40% to $0.7bn. 'The investment performance during the quarter has been strong across the themes except in special situations, where valuations uplifts have lagged listed markets, as is usual emerging from stress events,' Ashmore said. Trading conditions are in line with management expectations and the group remains confident of its prospects for the current year, it added.