MARKET TALK: KBC Starts Ashmore, BlueBay Asset Mgmt At Buy

18th Jun 2010 10:51

0951 GMT [Dow Jones] KBC Peel Hunt initiates coverage of Ashmore Group (ASHM.LN) and BlueBay Asset Management (BBAY.LN), both at buy, with 305p and 440p price targets, respectively. Says looking beyond short-term volatility, the fundamentals for continued allocations to emerging market and European corporates remain sound. Says Ashmore and BlueBay are well positioned to take advantage of this. "Our view is that medium-term demand for the strategies and themes offered by the two companies is likely to remain, and will be supportive of good growth over several years." Ashmore +1.2% at 247p, and BlueBay +4.1% at 297p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 18, 2010 05:51 ET (09:51 GMT)