Last checked at 12 Jul 2012 07:00
Ashmore Group plc
+0700 12 July, 2012
FOURTH QUARTER ASSETS UNDER MANAGEMENT STATEMENT
Ashmore Group plc ("Ashmore", the "Group"), the specialist emerging markets asset manager, announces today the following update to its assets under management ("AuM") in respect of the quarter ended 30 June 2012.
Assets under Management
Actual | Estimated | ||
Theme | 31 March 2012 (US$billion) | 30 June 2012 (US$billion) | Movement Q4vsQ3 (%) |
External debt | 15.1 | 15.9 | +5.3 |
Local currency | 10.3 | 10.0 | -2.9 |
Corporate debt | 2.3 | 2.4 | +4.3 |
Blended debt | 12.3 | 12.4 | +0.8 |
Equities | 7.8 | 6.2 | -20.5 |
Alternatives | 2.7 | 2.6 | -3.7 |
Multi-strategy | 6.5 | 5.6 | -13.8 |
Overlay / Liquidity | 8.9 | 8.6 | -3.4 |
Total | 65.9 | 63.7 | -3.3 |
The quarter saw assets under management decrease 3.3% to US$63.7 billion. The drivers of this decrease were adverse investment performance of US$1.6 billion and net outflows of US$0.6 billion.
There were net inflows within the external debt, with the largest movements arising on the introduction of a new segregated mandate. Net outflows were experienced within the equities theme, spread across public and segregated mandates, and within the multi-strategy theme, predominantly from one of the Japanese retail fund products. Other themes remained flat in the quarter.
Investment performance was positive within the external debt theme, with adverse performance in the equities, multi-strategy and alternatives themes whilst the corporate and blended debt themes remained flat in the quarter.
As expected, performance fees for the year overall are estimated to be £25 million, almost entirely earned in the first half (H1 2011/12 £23.0 million: FY2010/11 £85.4 million), and principally from investment performance for funds with an August 2011 year end.
The Group will announce its results in respect of the financial year to 30 June 2012 on 11 September 2012. There will be a presentation for analysts at 0900 on that date at the offices of Goldman Sachs at Peterborough Court, 133 Fleet Street London EC4M 2BB. A copy of the presentation will be made available on the Group's website at www.ashmoregroup.com.
Notes:
Foreign exchange
The average exchange rate, for the translation of US dollar management fees, achieved for the second half of the year was GBP 1:1.5904 US$ (H1 2011/12: GBP 1:1.5954).
For further information, please contact:
Ashmore Group plc | MHP Communications ashmore@mhpc.com | ||
Graeme Dell | Gay Collins | Martin Forrest | |
Group Finance Director +44 20 3077 6000 | +44 20 3128 8582 +44 7798 626 282 | +44 20 3128 8590 | |