Ashmore Group reports quarterly AuM growth

10th Oct 2013 07:08

Ashmore Group reported a rise in assets under management for the quarter boosted by strong net inflows.In a trading update for the three months to end of September, the asset manager said it achieved net inflows of $0.6bn and a "positive investment" performance of $0.5bn.Net inflows were driven by blended debt, corporate debt and external debt.Demand came from a broad range of clients and geography, reflecting the group's progress in developing distribution capabilities. Multi-strategy and local currency saw modest net outflows and smaller net outflows were seen in equities and overlay/liquidity.Equities and external debt were the biggest contributors to investment performance during the quarter. Chief Executive Officer Mark Coombs said: "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. Although emerging market asset prices recovered in September, valuations across equity and fixed income markets remain attractive, particularly when compared to developed market alternatives that continue to face uncertainty owing to numerous economic and fiscal challenges. "We therefore remain optimistic about the diverse range of Emerging Market investment opportunities that we can access on behalf of clients."The company added that it continues to perform in line with management's expectations.RD