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14 Apr 2011 07:00
Ashmore Group plc
14 April, 2011
INTERIM MANAGEMENT STATEMENT
Ashmore Group plc ("Ashmore", the "Group"), the specialist emerging markets asset manager, announces today the following interim management statement in respect of the period ended 31 March 2011.
Assets under Management
Actual | Estimated | ||
Theme | 31 December 2010 (US$billion) | 31 March 2011 (US$billion) | Movement Q2vsQ3 (%) |
External debt | 20.7 | 21.5 | 4 |
Local currency | 7.9 | 9.2 | 16 |
Special situations | 3.3 | 3.2 | -3 |
Equity | 0.2 | 0.2 | 0 |
Corporate debt | 1.0 | 1.1 | 10 |
Multi-strategy | 8.0 | 8.1 | 1 |
Other | 5.6 | 7.0 | 25 |
Total | 46.7 | 50.3 | 8 |
The quarter saw assets under management increase 8% to US$50.3 billion. The drivers of this were net inflows of US$2.3 billion and positive investment performance of US$1.3 billion. There were good inflows across a range of local currency Ashmore accounts and segregated mandates as well as further net subscriptions in the currency hedging/overlay strategy included within the "Other" theme.
The acquisition of a majority stake in EMM LLC announced on 24 February 2011 is on schedule to complete on 31 May 2011 and will be included in the Group's fourth quarter AuM figures.
Trading conditions are in line with management expectations and the Group remains confident of its prospects for the current year.
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 |
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