Ashmore sees rise in assets under management - Update

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.

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