Assets under management (AUM) at fund manager Ashmore picked up sharply in its first quarter, largely on the back of a positive investment performance.
The July - September quarter AUM increase 6.8% to $68bn, driven by positive investment performance of $3.7bn and net inflows of $0.6bn.
The principal net inflows were in the areas of blended debt and local currency, which rose 14.5% and 14% respectively when compared to the previous quarter.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Ashmore said this had been driven by investment from Asian and Middle East government sources.
Net outflows were experienced in the multi-strategy, external debt, equities, and corporate debt themes.
Multi-strategy and corporate debt fared the worst, showing outflows of 7.1% and 4.2% respectively.
The firm said investment performance was "positive across all investment themes".
JH / MM
