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Ashmore Group Q2 Assets Under Management Edges Up Sequentially

Ashmore Group plc (ASHM.L), a specialist emerging markets asset manager, reported Tuesday that its second-quarter assets under management or AuM increased 0.4 percent to $76.7 billion from preceding first quarter's $76.4 billion.

AuM increased by $0.3 billion during the period, through net inflows of $0.5 billion and negative investment performance of $0.2 billion.

The company noted that net inflows were delivered in the corporate debt, blended debt, equities, multi-asset and overlay/liquidity themes. There was a small net outflow in the local currency theme, and the external debt and alternatives themes were flat during the period.

Investment performance was modestly negative in aggregate for the three-month period reflecting the weaker global market conditions in October, with positive performance delivered over the rest of the quarter.

Ashmore's performance relative to benchmarks over three and five years remains strong.

Mark Coombs, Chief Executive Officer, said, "Despite the more challenging markets experienced for much of 2018, client flows remain resilient reflecting investors' very low allocations to Emerging Markets and recognition of the value available. The effect of tax-related stimulus on the US economy and its support for the US dollar started to fade towards the year end, removing the main headwind for Emerging Markets outperformance."

Coombs added, "The reduction in Emerging Markets asset prices despite improving economic growth suggests underweight investors will continue increasing allocations to Emerging Markets, and a return to the positive market trends experienced in 2016 and 2017."

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