Ashmore Group's increases assets under management

Ashmore Group's shares surged Thursday after reporting a 9.4 per cent rise in assets under management (AuM) in the third quarter as the group attracted funds from government clients.

Ashmore Group's shares surged Thursday after reporting a 9.4 per cent rise in assets under management (AuM) in the third quarter as the group attracted funds from government clients.

AuM came to $77.7bn in the three months ended March 31st, compared to $71bn the previous quarter, boosted by net inflows of $7.3bn and adverse investment performance of $0.6bn.

The company had ongoing success in bringing in funds mainly from government clients including European and US institutions.

Strong net inflows continued in local currency, corporate debt and blended debt.

"Investment performance during the quarter was slightly positive in equities and corporate debt and modestly negative across the other fixed income themes," the firm said in a statement.

"The group continues to perform in line with management's expectations."

Shares were up 11.81% at 396.8p in early trading.

RD

Recommended

HubSpot: a tech stock set to tumble
Trading

HubSpot: a tech stock set to tumble

US tech stocks have had a fantastic couple of years. But this year is unlikely to be so bullish for high-fliers that can’t turn big profits.
18 Jan 2022
How to be better at selling stocks
Investment strategy

How to be better at selling stocks

There is plenty of advice around about buying stocks, but not so much about when you should sell. John Stepek explains the two key things to know abou…
14 Jan 2022
Share tips of the week – 14 January
Share tips

Share tips of the week – 14 January

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
14 Jan 2022
Fintech: how to profit as technology transforms banking around the world
Share tips

Fintech: how to profit as technology transforms banking around the world

Financial technology – from apps to APIs to the cloud – is rapidly transforming financial services. This will spell doom for some incumbent firms, whi…
14 Jan 2022

Most Popular

Five unexpected events that could shock the markets in 2022
Stockmarkets

Five unexpected events that could shock the markets in 2022

Forget Covid-19 – it’s the unexpected twists that will rattle markets in 2022, says Matthew Lynn. Here are five possibilities
31 Dec 2021
US inflation is at its highest since 1982. Why aren’t markets panicking?
Inflation

US inflation is at its highest since 1982. Why aren’t markets panicking?

US inflation is at 7% – the last time it was this high interest rates were at 14%. But instead of panicking, markets just shrugged. John Stepek explai…
13 Jan 2022
Tech stocks teeter as US Treasury bond yields rise
Tech stocks

Tech stocks teeter as US Treasury bond yields rise

The realisation that central banks are about to tighten their monetary policies caused a sell-off in the tech-heavy Nasdaq stock index and the biggest…
14 Jan 2022