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Ashmore adds US$0.5bn in assets under management during Q2

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Emerging markets focused asset manager Ashmore Group (LSE: ASHM) said net cash inflows and fund performance lead to a US$0.5 billion increase in its total assets under management (AuM) during the quarter ended 31st December 2009.  The 2% quarter-on-quarter AuM growth missed analyst expectations and is reduced from the previous quarter’s 25% increase.

The increased AuM consisted of net inflows of US$300 million into Ashmore’s managed funds along with overall investment fund growth of US$200 million.

Ashmore said trading conditions remain in line with management expectations and it is confident in its prospects for the current year.

The group said its strategy remains consistent, targeting long term investment outperformance in order to generate and diversify its net management fee income.

Quick facts: Ashmore Group

Price: 447.4 GBX

LSE:ASHM
Market: LSE
Market Cap: £3.19 billion
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