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
-
8 of the best houses for sale with annexesThe best houses with annexes – from a period property in the Lake District to a 13th-century house with a two-bedroom annexe in Saltwood, Kent
-
Zelenskyy moves to appease Donald Trump – what happens now?Ukraine’s president Volodymyr Zelenskyy is conceding ground to secure the least-worst deal possible, says Emily Hohler
