Last checked at 14 Jul 2010 07:00
Ashmore Group plc
+0700 14 July, 2010
FOURTH QUARTER ASSETS UNDER MANAGEMENT AND TRADING UPDATE
Ashmore Group plc ("Ashmore", the "Group"), a leading specialist emerging markets asset manager, announces today the following statement in respect of the period ended 30 June 2010.
Assets under Management
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| Actual | Estimated |
|
| Theme | 31 March 2010 (US$billion) | 30 June 2010 (US$billion) | Movement Q3vsQ4 (%) |
| External debt | 18.4 | 19.4 | +5 |
| Local currency | 6.1 | 7.0 | +15 |
| Special situations | 3.0 | 3.4 | +13 |
| Equity | 0.2 | 0.2 | - |
| Corporate high yield | 0.9 | 0.9 | - |
| Multi-strategy | 2.1 | 2.0 | -5 |
| Other | 2.3 | 2.4 | +4 |
| Total | 33.0 | 35.3 | +7 |
The final quarter of the financial year ended 30 June 2010 saw Assets under Management increase by US$2.3 billion (7%) to US$35.3 billion. The drivers of this were net inflows of US$2.9 billion into the external debt, local currency and special situations themes, and adverse investment performance of US$0.6 billion primarily in May.
Performance fees for the year overall are estimated to be £82.9 million (H1 2009/10 £53.3 million: FY2008/09 £52.5 million) arising principally from strong investment performance for funds with December and April year ends.
The Group will announce its results in respect of the financial year to 30 June 2010 on 14 September 2010. There will be a presentation for analysts at 0900 on that date at the offices of Goldman Sachs at Peterborough Court, 133 Fleet Street London EC4A 2BB. A copy of the presentation will be made available on the Group's website at www.ashmoregroup.com.
Foreign exchange
A relatively stable GBP:US$ exchange rate prevailed in the year (FY2009/10 average rate 1.5804, 30 June 2010 1.4945), with an average exchange rate over the final quarter of GBP1:1.4965 US$ and forward foreign exchange contracts over US$30 million have matured in the quarter, effectively at this average rate.
For further information, please contact:
| Ashmore Group plc | Penrose Financial Ashmore@penrose.co.uk | ||||
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| Graeme Dell | Gay Collins | Jennifer Spivey |
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| Group Finance Director +44 20 3077 6000 | +44 20 7786 4888 / +44 7798 626 282 | +44 20 7786 4834 |
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