Last checked at 19 Apr 2016 07:00
Ashmore Group plc
+0700 19 April 2016
THIRD 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 31 March 2016.
Assets under management
Theme | Actual31 December 2015 (US$ billion) | Estimated31 March 2016 (US$ billion) | Movement Q3 vs Q2 (%) |
External debt | 10.8 | 11.0 | +2% |
Local currency | 12.0 | 13.1 | +9% |
Corporate debt | 4.8 | 4.6 | -4% |
Blended debt | 13.3 | 13.7 | +3% |
Equities | 3.2 | 3.1 | -3% |
Alternatives | 1.4 | 1.5 | +7% |
Multi-asset | 1.2 | 1.2 | - |
Overlay / liquidity | 2.7 | 3.1 | +15% |
Total | 49.4 | 51.3 | +4% |
Assets under management increased by US$1.9 billion over the period through positive investment performance of US$3.0 billion and net outflows of US$1.1 billion.
Net outflows were experienced in blended debt, external debt, corporate debt, multi-asset and local currency. Overlay/liquidity had a net inflow and in the alternatives theme, capital was raised into a private equity infrastructure fund in Colombia.
The quarter saw strong returns from Emerging Markets assets as value was recognised and prices recovered from over-sold levels earlier in the period. Investment performance was particularly strong in local currency, as Emerging Markets currencies strengthened against the US dollar, blended debt and external debt. Corporate debt, multi-asset and overlay/liquidity also delivered positive investment performance during the quarter, while the equities theme experienced slightly negative performance.
Mark Coombs, Chief Executive Officer, Ashmore Group plc, commented:
"Markets rallied towards the end of the quarter as some of the headwinds that have affected sentiment and held back returns, such as the falling oil price and strong US dollar, started to recede. There continues to be substantial absolute and relative value available in Emerging Markets, supporting our view that investors should be looking to increase their allocations. In previous cycles, asset flows typically lagged the initial strong recovery in prices and we anticipate a similar pattern in this cycle as investors recognise the breadth of diverse return opportunities across a broad range of Emerging Markets investment themes."
Home member state disclosurePursuant to the Transparency Directive Amending Directive (2013/50/EU) and DTR 6.4.2, Ashmore Group plc announces that its home state is the United Kingdom.
Ashmore Group plc has 707,372,473 shares in issue at the date of this notification.
For further information please contact:
Ashmore Group plcPaul MeasdayInvestor Relations +44 (0)20 3077 6278
FTI ConsultingAndrew Walton +44 (0)20 3727 1514Paul Marriott +44 (0)20 3727 1341