Ashmore quarterly AuM declines

14th Jan 2014 07:59

- AuM fell 4.1 per cent during the quarter- Continued market volatility- Confident in year ahead, sees easing volatility Ashmore, a UK fund manager that invests in emerging markets, said assets under management fell 4.1 per cent during the quarter ended December 31st amid continued market volatility.AuM fell to $75.3bn during the quarter from $78.5bn as a result of net outflows totalling $3.5bn and positive investment performance of $0.3bn.Ashmore said: "the majority of the net outflow resulted from a small number of redemptions from segregated mandates in the blended debt and overlay/liquidity themes. The external debt, equities and multi-strategy themes also experienced net outflows, and alternatives funds returned capital as expected during the quarter. "There were modest positive contributions to investment performance in equities, external debt, corporate debt, and blended debt, offset by mildly negative performance in local currency, alternatives and overlay/liquidity."Chief Executive Officer Mark Coombs noted: "Market performance and, to some extent, investor behaviour during the quarter continued to be influenced by uncertainty surrounding US monetary policy and the heightened market volatility experienced since early May last year."There is now greater clarity over US monetary policy, and Emerging Market assets offer attractive prospective returns across both equities and fixed income, and especially against Developed Market assets. This continues to give us confidence for the year ahead."CJ