Last checked at 14 Oct 2010 07:00
Ashmore Group plc
14 October 2010
First QUARTER INTERIM 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 30 September 2010.
Assets under Management
|
| Actual | Estimated |
|
| Theme | 30 June 2010 (US$billion) | 30 September 2010 (US$billion) | Movement Q1vsQ4 (%) |
| External debt | 19.4 | 20.5 | +6 |
| Local currency | 7.0 | 7.6 | +9 |
| Special situations | 3.4 | 3.4 | - |
| Equity | 0.2 | 0.2 | - |
| Corporate debt | 0.9 | 0.9 | - |
| Multi-strategy | 2.0 | 4.9 | +145 |
| Other | 2.4 | 4.1 | +71 |
| Total | 35.3 | 41.6 | +18 |
The quarter saw assets under management increase 18% to US$41.6 billion. The drivers of this were net inflows of US$3.4 billion, and positive performance of US$2.9 billion.
The inflows were within the multi-strategy theme, principally from Asian retail investor focused products, and in the "Other" theme in the currency hedging/overlay strategy.
Trading conditions are in line with management expectations and the Group remains confident of its prospects for the current year.
The Group's strategy remains consistent; deliver long term investment outperformance; generate and diversify net management fee income through the attraction of net subscriptions across investment themes; and develop the Ashmore brand and business model.
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 |