Ashmore Group 4Q Assets Under Management Up $2.3B At $35.3B

14th Jul 2010 07:06

LONDON (Dow Jones)--Ashmore Group PLC (ASHM.LN), a specialist emerging markets asset manager, said Wednesday the final quarter of the financial year ended June 30 saw assets under management increase by $2.3 billion to $35.3 billion. MAIN FACTS: -The drivers of this were net inflows of $2.9 billion into the external debt, local currency and special situations themes, and adverse investment performance of $0.6 billion primarily in May. -Performance fees for the year overall are estimated to be GBP82.9 million arising principally from strong investment performance for funds with December and April year ends. -A relatively stable GBP:$ exchange rate prevailed in the year, with an average exchange rate over the final quarter of GBP1:$1.4965 and forward foreign exchange contracts over $30 million have matured in the quarter, effectively at this average rate. -Shares on Tuesday closed at 263.6 pence, valuing the company at GBP1.85 billion. -By Tapan Panchal, Dow Jones Newswires. Tel +44(0)207-842 9448, [email protected] (END) Dow Jones Newswires July 14, 2010 02:06 ET (06:06 GMT)