Ashmore Group Regulatory News (ASHM)

16 Oct 2007 07:01

Ashmore Group PLC16 October 2007 Ashmore Group plc 0700 16 October 2007 FIRST QUARTER INTERIM MANAGEMENT STATEMENT Ashmore Group plc (the "Group", the "Company") today issues the followinginterim management statement in respect of the three month period to 30September 2007. Assets under Management ("AuM") AuM AuM Movement 30 June 2007 30 Sept 2007 (US$bn) (US$bn) (%)Global US$ 21.2 21.9 4Local Currency 5.0 5.7 14Special Situations 3.4 3.6 7Equity 2.0 1.9 (8)Total 31.6 33.1 5 Over a period in which global financial markets experienced a high level ofvolatility and conditions in global credit markets in particular werechallenging, the Group delivered net subscriptions of US$0.1bn and satisfactorylevels of investment performance. Despite recent market conditions, investorappetite for emerging markets investments remains positive and the Groupcontinues to benefit from a shift in investor preference towards specialistmanagers with track records of delivering sustained investment out-performance. The Group's strategy remains consistent; deliver long term investmentout-performance; generate and diversify net management fee income through theattraction of net subscriptions across investment themes; and develop theAshmore brand and business model. Trading conditions into the second quarter ofthe 2008 financial year are in line with management expectations and the Groupremains confident that its prospects for the current financial year aresupported by the long-term growth trends demonstrated by emerging market assetclasses. The Group will announce a trading update and AuM statement for the six monthperiod to 31 December 2007 at 0700 on 15 January 2008 and its results in respectof this period at 0700 on 26 February 2008. For further information, please contact: Ashmore Group plc +44 20 7557 4100Jim Pettigrew +44 20 7557 4157Tom Shippey +44 20 7557 4191 Penrose Financial +44 20 7786 4888Gay Collins +44 7798 626 282 This information is provided by RNS The company news service from the London Stock Exchange