Ashmore Group PLC Trading Statement (6946P)
October 14 2019 - 2:00AM
UK Regulatory
TIDMASHM
RNS Number : 6946P
Ashmore Group PLC
14 October 2019
Ashmore Group plc
14 October 2019
FIRST QUARTER ASSETS UNDER MANAGEMENT STATEMENT
Ashmore Group plc ("Ashmore", "the Group"), the specialist
Emerging Markets asset manager, announces the following update to
its assets under management ("AuM") in respect of the quarter ended
30 September 2019.
Assets under management
Actual Estimated
30 September
30 June 2019 2019 Movement
Theme (US$ billion) (US$ billion) (%)
External debt 19.1 19.6 +2.6%
--------------- --------------- ---------
Local currency 19.7 19.7 -
--------------- --------------- ---------
Corporate debt 15.5 15.0 -3.2%
--------------- --------------- ---------
Blended debt 24.3 24.2 -0.4%
--------------- --------------- ---------
Equities 4.4 4.6 +4.5%
--------------- --------------- ---------
Alternatives 1.6 1.6 -
--------------- --------------- ---------
Multi-asset 0.5 0.4 -20.0%
--------------- --------------- ---------
Overlay / liquidity 6.7 6.8 +1.5%
--------------- --------------- ---------
Total 91.8 91.9 +0.1%
--------------- --------------- ---------
Assets under management were broadly flat over the period,
reflecting net inflows of US$2.4 billion offset by negative
investment performance of US$2.3 billion.
Ashmore's clients continue to raise their allocations to
Emerging Markets and the combination of additions to existing funds
and new client mandates delivered broad-based flows during the
period, with net inflows in every investment theme except
alternatives, which was flat, and a small net outflow in
multi-asset. The net flows were highest in blended debt, external
debt, local currency, equities and corporate debt, with a small net
inflow in the overlay / liquidity theme. A wide range of
institutional clients accounted for the net inflow and, in
aggregate, there was a small net outflow from intermediary retail
clients.
The relative strength of the US dollar over the period affected
local currency and equities returns, and the rally in the US
Treasury market provided support to external debt pricing. Absolute
performance was negative in the corporate debt, blended debt, local
currency and equities themes and, to a lesser extent, in the
external debt theme. Relative investment performance remains strong
over three and five years, but has weakened over one year as a
consequence of recent market volatility and Ashmore's investment
committees taking advantage of lower prices to add risk selectively
to portfolios this quarter.
Mark Coombs, Chief Executive Officer, Ashmore Group plc,
commented:
"This quarter continued to see broad-based demand for the
attractive risk-adjusted returns available across Emerging Markets,
and the delivery of continued net inflows demonstrates both the
diversified nature of Ashmore's client base and the breadth of its
product range. The price volatility over the summer has provided
Ashmore's active processes with attractive investment opportunities
to underpin long-term outperformance for clients. While the global
macro environment remains uncertain, the low yields and relatively
high equity valuations in Developed Markets mean investors' returns
are enhanced by increasing their allocations to the diverse and
resilient range of emerging economies in both fixed income and
equities."
Ashmore's Legal Entity Identifier (LEI) is
549300U3L59WB4YI2X12.
For further information please contact:
Ashmore Group plc
Paul Measday
Investor Relations +44 (0)20 3077 6278
FTI Consulting
Neil Doyle +44 (0)20 3727 1141
Laura Ewart +44 (0)20 3727 1160
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END
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