Ashmore posts 6% rise in quarterly AuM

16th Jul 2009 07:28

Assets under management at Ashmore Group increased by 6% to $24.9bn in the final quarter ended 30 June.This increase comprises investment performance of $1.9bn, arising in external debt and local currency, partially offset by net redemptions of $0.5bn.On a year-on-year basis, AuM dropped to $24.9bn from $37.5bn. Net redemptions in the period were $7.4bn, of which $5.7bn arose in the first half of the year.Over the second half, redemptions have slowed significantly, while subscription level have begun to increase within both public funds and segregated mandates, with net subscriptions achieved in May and June.