Ashmore profit beats forecasts

25th Feb 2010 11:50

Shares in Ashmore are in demand after the emerging markets asset manager reported a better than expected 40% jump in half-year profits.Pre-tax profit jumped to £112m in the six months ended 31 December compared with £80.3m last time.Assets under management at the end of December were up 27% to $31.6bn from 30 June thanks to good net inflows and positive investment performance.'Ashmore remains well positioned to benefit from the opportunity presented by the increased importance of the emerging markets' role within the global order, and increased investor allocations into, and between, emerging markets,' said chief executive Mark Coombs.