Last checked at 28 May 2009 07:00
Ashmore Group plc ("Ashmore", the "Company") investment in Ashmore Global Opportunities Limited ("AGOL")
Ashmore today announces that it has made an investment of €5.1m in AGOL, the London listed investment scheme. The investment was made through Ashmore's wholly owned subsidiary, Ashmore Management Company Limited, using existing cash resources and represents 1.88% of AGOL's voting rights.
AGOL focuses principally on making investments in Special Situations, which is Ashmore's private equity / distressed debt investment theme. Ashmore believes that there is currently a significant opportunity to make investments in non-distressed assets at distressed prices. Ashmore's investment in AGOL therefore provides the Company with the ability to participate in the attractive investment returns which Ashmore believes will be delivered in the Special Situations investment theme over the near term.
As at 31 December 2008, AGOL had gross assets of US$566.9 million and recorded a loss for the period to 31 December 2008 of US$203.5 million.
Ashmore Investment Management Limited, a subsidiary of Ashmore, is the investment manager of AGOL.
Enquiries:
Ashmore
Graeme Dell +44 203 077 6157
Penrose
Gay Collins +44 207 786 4882 / + 44 7798626282