Ashmore Group Regulatory News (ASHM)

11 Jan 2007 07:01

Ashmore Group PLC11 January 2007 Ashmore Group plc 0700 11 January 2007 TRADING UPDATE AND ASSETS UNDER MANAGEMENT STATEMENT Ashmore Group plc ("the "Group"), a leading specialist emerging markets assetmanager, announces today the following trading update and assets undermanagement ("AuM") statement in respect of the six month period ending 31December 2006. Assets under Management Actual EstimatedTheme AuM AuM Movement 30 June 2006 31 Dec 2006 (US$bn) (US$bn) (%) US Dollar 15.2 18.3 20Local Currency 3.0 3.8 27Special Situations 1.3 2.9 123Equity 0.6 1.8 200Total 20.1 26.8 33 Trading conditions in the six months to 31 December 2006 remained satisfactorywith global liquidity and strong fundamentals in emerging markets continuing tobe positive for the Group's investment themes. The Group has continued toattract net subscriptions across all of its investment themes and the Group'strack record of delivering investment out-performance has been sustained. Net subscriptions during this period totalled US$4.2bn, including, as previouslyannounced, the US$1.3bn raised in August through the launch of Ashmore GlobalSpecial Situations Fund 3 L.P. Approximately 18 per cent. of the netsubscriptions represent inflows generated through investments into the Group'sMulti Strategy Fund, which invests across the Group's investment themes. Although the Group continues to deliver strong investment performance, asanticipated at the time of the Group's IPO in October 2006, crystallisedperformance fees during the financial year to 30 June 2007 are expected to besubstantially lower than those crystallised in the prior year. The Groupestimates that crystallised performance fees in the six months to 31 December2006 were £8m. The Group remains focused on delivering long term investment outperformance andgenerating net management fee income through the attraction of net subscriptionsacross all of its investment themes. Trading conditions across the Group'sinvestment themes continue to be in line with management expectations and theDirectors remain confident of the Group's prospects for the current financialyear. Mark Coombs, CEO and Jim Pettigrew, COO/CFO will be hosting a conference call at3.15pm London time today for investors and analysts. Dial in details areavailable upon request from Penrose Financial on the number at the end of thisstatement. Ashmore will announce its interim results and maiden interim dividend in respectof the financial year to 30 June 2007 at 0700 hours on 27 February 2007. Therewill be a presentation for analysts and investors at 9:30am on that date at theoffices of UBS at 1 Finsbury Avenue, London EC2M 2PP. A copy of the presentationwill be made available on the Company's website. For further information, please contact: Ashmore Group plc +44 20 7557 4100Jim Pettigrew Penrose Financial +44 20 7786 4888Gay Collins +44 7798 626 282 gayc@penrose.co.ukWill Bowen +44 7979 771 057 willb@penrose.co.uk This information is provided by RNS The company news service from the London Stock Exchange