(Alliance News) - Ashmore Group PLC on Friday said its assets under management rose during its second quarter, which the emerging markets-focused asset manager put down to a "positive investment performance".
Assets under management at December 31 were USD93.0 billion, up 8.8% from USD85.5 billion at the end of September.
"Assets under management increased by USD7.5 billion over the period, comprising positive investment performance of USD8.1 billion and net outflows of USD600 million," Ashmore added.
External debt and local currency assets both rose 10% quarterly, with corporate debt and blended debt posting hikes of 5% and 6%, respectively. The largest quarter-on-quarter surge came from equities however, jumping 27%.
"Against a backdrop of positive performance by Emerging Markets in the quarter, Ashmore's active investment processes delivered outperformance across its broad range of fixed income and equities strategies," the company added.
"Continuing the trend seen since the market recovery began in April, Ashmore's one- and three-year performance track records showed further improvement over the quarter, and the five-year performance remains very strong."
Ashmore shares climbed 0.9% to 452.20 pence each in London on Friday morning.
By Eric Cunha; ericcunha@alliancenews.com
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Ashmore (ASHM)