Last checked at 14 Apr 2011 07:00

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Ashmore Group plc
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14 April, 2011
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INTERIM MANAGEMENT STATEMENT
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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.
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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 |
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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.
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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.
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Trading conditions are in line with management expectations and the Group remains confident of its prospects for the current year.
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For further information, please contact:
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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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