Trading Statement

17 Apr 2008 07:01

Ashmore Group PLC17 April 2008 Ashmore Group plc +0700 17 April 2008 THIRD QUARTER INTERIM MANAGEMENT STATEMENT Ashmore Group plc ("Ashmore", the "Group"), a leading specialist emergingmarkets asset manager, announces today the following interim managementstatement in respect of the period ended 31 March 2008. Assets under Management ("AuM") Actual EstimatedTheme AuM AuM Movement 31 December 2007 31 March 2008 (US$billion) (US$billion) (%) Dollar Debt 23.1 22.4 -3Local Currency 6.4 7.6 +19Special situations 5.1 5.4 +6Equity 1.9 0.9 -53Total 36.5 36.3 -1 The quarter saw assets under management fall marginally to US$36.3 billion. Thedrivers of this were net redemptions of US$0.8 billion caused by rebalancing inthe context of an uncertain global outlook. This was particularly visible in theEquity theme where certain accounts reduced their overall allocation and therewas reweighting within internally managed multi strategy products from equitiesto local currency. The ongoing process of clients being provided with theopportunity to diversify investment themes continues to be reflected in themake-up of AuM, particularly in steady growth in the Local Currency theme,including some switching from Dollar Debt. Meanwhile, investment performancefor the third quarter was a positive US$0.6 billion. 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 are in line with management expectations and the Groupremains confident of its prospects for the current year. For further information, please contact: Ashmore Group plc +44 (0)20 7557 4100 Graeme Dell, Group Finance Director +44 (0)20 7557 4157 Penrose Financial +44(0)20 7786 4888 Gay Collins +44(0)7798 626282 Ashmore@penrose.co.uk This information is provided by RNS The company news service from the London Stock Exchange