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197.60 -3.80 (-1.89%)

Bid:

197.20

Ask:

198.10

Spread: 0.90 (0.456%)

Market Cap: £1.28b

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Ashmore Assets Under Management Fall On Outflows, Negative Performance

Tue, 14th Apr 2015 06:50

LONDON (Alliance News) - FTSE 250-listed investment manager Ashmore Group PLC on Tuesday said its assets under management fell in the first quarter of 2015 through a combination of net outflows and weaker investment performance.

Ashmore said its assets under management at the end of March, the end of its financial third quarter, were USD61.1 billion, down 4.1% against the USD63.7 billion under management at the end of December. The decline was caused by a combination of net outflows, which totalled USD2 billion in the quarter, and USD0.6 billion of negative investment performance.

The company said fixed income and equity markets both started to recover in the quarter following the sell-off seen in December, but said sterling returns continue to be impacted by the strength of the US dollar.

"Those investors willing to look beyond short-term price volatility and to focus on fundamentals are benefiting from the recent recovery in markets. However, some investors remain cautious given continued uncertainties such as the timing and impact of higher US interest rates," said Ashmore Chief Executive Officer Mark Coombs.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance