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.
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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
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