Last checked at 13 Jan 2011 07:00
Ashmore Group plc
+0700 13 January, 2011
SECOND QUARTER ASSETS UNDER management statement
Ashmore Group plc ("Ashmore", the "Group"), a leading specialist emerging markets asset manager, announces today the following interim management statement in respect of the period ended 31 December 2010.
Assets under Management
Actual | Estimated | ||
Theme | 30 September 2010 (US$billion) | 31 December 2010 (US$billion) | Movement Q1vsQ2 (%) |
External debt | 20.5 | 20.7 | 1 |
Local currency | 7.6 | 7.9 | 4 |
Special situations | 3.4 | 3.3 | -3 |
Equity | 0.2 | 0.2 | 0 |
Corporate debt | 0.9 | 1.0 | 10 |
Multi-strategy | 4.9 | 8.0 | 63 |
Other | 4.1 | 5.6 | 37 |
Total | 41.6 | 46.7 | 12 |
The quarter saw assets under management increase 12% to US$46.7 billion. The drivers of this were net inflows of US$5.2 billion and adverse investment performance of US$0.1 billion. Inflows were highest in the multi-strategy theme, with a final quarter of inflows for the Asia retail focused product, and also in the "Other" theme in the currency hedging/overlay strategy.
For funds having a performance year ending December 2010 performance fees are estimated to be £10 million which together with the fees previously announced for the August 2010 year end funds and other performance fees recognised in the period give overall H1 performance fees of approximately £60 million.
Trading conditions are in line with management expectations and the Group remains confident of its prospects for the current year.
Ashmore will announce its interim results in respect of the six months ended 31 December 2010 at 0700 hours on 24 February 2011.
For further information, please contact:
Ashmore Group plc | MHP Communications ashmore@mhpc.com | |
Graeme Dell | Gay Collins | Jennifer Spivey |
Group Finance Director +44 20 3077 6000 | +44 20 3128 8582 +44 7798 626 282 | +44 20 3128 8534 |