Ashmore assets under management up as notes shift away from US

(Alliance News) - Ashmore Group PLC on Tuesday said investors are increasingly looking to shift allocations away from the US, including into emerging markets, as it posted a rise in assets under management.

The emerging markets-focused asset manager said assets under management increased 2.3% to USD48.7 billion as at September 30, from USD47.6 billion at June 30.

Ashmore said emerging markets delivered "strong" returns over the three months, with fixed income indices rising by 3% to 5% and main equity indices returning around 10%.

The firm said: "Ashmore's active management approach continues to generate outperformance for clients across the group's fixed income and equity strategies."

Chief Executive Officer Mark Coombs said: "Emerging markets continue to perform strongly, which, along with Ashmore's alpha delivery for clients, is leading to broad client engagement and increasing momentum across the business. This has led to a further improvement in net flows this quarter. The Group has a consistent strategy for growth and the focus on building greater scale in equities and alternatives is successfully delivering net inflows in these investment themes."

He added: "Given the positive emerging markets backdrop, evident risks to investors' overweight positions in the US, and Ashmore's continued investment outperformance, the group is well-positioned to capture additional flows as investors increasingly look to shift allocations away from the US including into emerging markets."

Ashmore shares rose 0.8% to 181.60 pence each on Tuesday morning in London.

By Tom Budszus, Alliance News slot editor

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