MARKET TALK: Ashmore Assets Under Management Ahead

14th Jul 2010 07:45

0645 GMT [Dow Jones] Ashmore Group's (ASHM.LN) 4Q interim management statement shows assets under management ahead of expectations says KBC Peel Hunt. Says this is driven by inflows of $2.9Bln, well ahead of the $0.7Bln the brokerage was expecting. Says the performance fees for the year are estimated to be GBP82.9M, compared to the GBP57M KBC was looking for, as a result of strong fund performance. Expects the shares to react positively to the statement. Shares closed Tuesday at 264p. KBC has the stock at buy with a 305p price target. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 14, 2010 02:45 ET (06:45 GMT)