Ashmore Regulatory News (ASHM)

15 Jan 2008 07:01

Ashmore Group PLC15 January 2008 Ashmore Group plc +0700 15 January 2008 TRADING UPDATE AND ASSETS UNDER MANAGEMENT STATEMENT Ashmore Group plc ("Ashmore", the "Group"), a leading specialist emergingmarkets asset manager announces today the following trading update and assetsunder management ("AuM") statement in respect of the period ended 31 December2007. In the period, Ashmore delivered growth in AuM of US$ 3.7 billion, demonstratingthe Group's continued ability to attract investors as a specialist asset managerwith a track record of delivering sustained investment outperformance. Actual EstimatedTheme AuM AuM Movement 30 September 2007 31 December 2007 (US$billion) (US$billion) (%)Dollar Debt 21.9 23.4 7%Local Currency 5.7 6.4 12%Special situations 3.6 5.1 42%Equity 1.9 1.9 -Total 33.1 36.8 11% The Group continues to experience a good level of demand for its products,attracting net subscriptions of US$ 2.8 billion in the three month period ended31 December 2007. This includes raising US$ 1.0 billion through the launch ofAshmore Global Special Situations Fund 4 L.P. and EUR 0.5 billion from thesuccessful listing of Ashmore Global Opportunities Limited on the London StockExchange. In addition, the Group launched a new fund within a new investmenttheme, the Ashmore Emerging Markets Corporate High Yield Fund. Investmentperformance in the period was US$ 0.9 billion. During the six months ended 31 December 2007, performance fees are estimated tobe £32 million, generated across the Group's investment themes. The Group's strategy remains consistent; deliver long term investmentoutperformance; generate and diversify net management fee income through theattraction of net subscriptions across investment themes; and develop theAshmore brand and business model. Trading conditions as we enter the third quarter of the 2008 financial year arein line with management expectations, supported by the long term growth trendsdemonstrated by emerging market asset classes, and the Group remains confidentof its prospects for the current year. Ashmore will announce its interim results in respect of the six months ended 31December 2007 at 0700 hours on 26 February 2008. For further information, please contact: Ashmore Group plc +44 (0)20 7557 4100Graeme Dell, Group Finance Director +44 (0)20 7557 4157 Penrose Financial +44(0)20 7786 4888Gay Collins +44(0)7798 626282Ashmore@penrose.co.uk This information is provided by RNS The company news service from the London Stock Exchange