Quarterly AuM Statement

17 Jul 2007 07:00

Ashmore Group PLC17 July 2007 Ashmore Group plc 0700 17 July 2007 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 three month period ended 30June 2007. Assets under Management Actual EstimatedTheme AuM AuM Movement 31 March 2007 (US$bn) 30 June 2007 (US$bn) (%)US Dollar 20.1 21.2 5Local Currency 4.2 5.0 19Special Situations 3.2 3.4 6Equity 1.7 2.0 18Total 29.2 31.6 8 During the three month period ended 30 June 2007, the Group continued toexperience a good level of demand for its products, attracting net subscriptionstotalling US$2.3bn across its investment themes. Approximately half of the netsubscriptions represented inflows generated through investments into the Group'sMulti Strategy funds which invest across the Group's investment themes. Theseinclude subscriptions into a new fund launched in April 2007 targeting retailinvestors in Japan which raised US$1.0bn, continuing the Group strategy ofdiversification. During the financial year ended 30 June 2007, AuM increased by US$11.5bn (57%)from US$20.1bn at 30 June 2006 to US$31.6bn at 30 June 2007. Net subscriptionsin the same period were US$8.3bn and investment performance contributedUS$3.2bn. Net performance fees recognised in the six month period to 30 June 2007 areestimated to be £12.2m, and were generated across all of the Group's investmentthemes. The Group remains focused on delivering long term investment out-performance,generating net management fee income through the attraction of net subscriptionsacross all of its investment themes and developing the Ashmore brand andbusiness model. Despite recent market volatility, trading conditions across theGroup's investment themes during the last quarter of the 2007 financial year andinto the start of the 2008 financial year remain in line with managementexpectations. The Group continues to believe that strong macro-economic,demographic and political factors, together with enhanced liquidity, indexre-weighting and credit worthiness in the Group's markets will continue tounderpin growth across emerging market asset classes. Ashmore will announce its preliminary results in respect of the financial yearto 30 June 2007 at 0700 on 12 September 2007. There will be a presentation foranalysts and investors at 0930 on that date at the offices of Goldman Sachs atPeterborough Court, 133 Fleet Street London EC4A 2BB. A copy of the presentationwill be made available on the Group's website at www.ashmoregroup.com. For further information, please contact; Ashmore Group plc +44 20 7557 4100Jim Pettigrew +44 20 7557 4157Chief Operating and Financial Officer Penrose Financial+44 20 7786 4888Gay Collins +44 7798 626 282 This information is provided by RNS The company news service from the London Stock Exchange