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Ashmore attracts net inflows but US dollar weighs on returns

A stronger US dollar affected local currency and equity returns, while the US Treasury rally supported external debt pricing

Ashmore Group - brazil
Ashmore invests in various emerging markets, including Brazil

Ashmore Group PLC (LON:ASHM) has attracted a net inflow of US$2.4bn in the past three months but negative market performance led to assets remaining roughly unchanged.

Assets under management ended September at US$91.9bn, up 0.1% over the three months that make up the first quarter of the emerging markets-focused asset manager’s first quarter. Year-on-year, the figure was up 20%.

A “wide range” of institutional clients accounted for the net inflows, with a “small net outflow” from intermediary retail clients.

A stronger US dollar affected local currency and equity returns, while the US Treasury rally supported external debt pricing.

Chief executive Mark Coombs said: “This quarter continued to see broad-based demand for the attractive risk-adjusted returns available across emerging markets, and the delivery of continued net inflows demonstrates both the diversified nature of Ashmore's client base and the breadth of its product range.”

He said price volatility over the summer provided the active management processes with “attractive investment opportunities”.

Quick facts: Ashmore Group

Price: 363 GBX

LSE:ASHM
Market: LSE
Market Cap: £2.59 billion
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