Ashmore sees strong rise in AuM

Emerging markets asset manager Ashmore Group saw assets under management (AuM) recover strongly in its third quarter, following a fall in the first half.

AuM totalled $65.9bn by March 31st 2012, up 9.1% over the three-month period, helped by net inflows of $1.2bn and the positive investment performance of $4.3bn.

Ashmore saw net inflows within the overlay, external debt, local currency, corporate debt and multi-strategy categories, while "modest" net outflows were seen in equities and blended debt themes.

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"Consistent with Ashmore's long standing investment approach of adding risk during periods of market volatility such as that experienced in our first half, all investment themes have subsequently delivered positive investment performance in what has been a strong third quarter, with equities, external debt and local currency contributing most to the increase in AuM," the firm said.

In the first half ended December 31st 2011, AuM stood at $60.4bn, down 9% from the $65.8m reported at the end of the prior fiscal year. This was caused by an "adverse investment performance", with the value of the portfolios diving by $6.1bn in the six months period, despite a $1.0bn gain in the firm's second quarter.

BC