Ashmore Group PLC Trading Statement (7390M)
January 16 2023 - 2:00AM
UK Regulatory
TIDMASHM
RNS Number : 7390M
Ashmore Group PLC
16 January 2023
Ashmore Group plc
16 January 2023
SECOND 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
31 December 2022.
Assets under management
Actual Estimated
30 September
2022 31 December 2022 Movement
Theme (US$ billion) (US$ billion) (%)
- External debt 11.9 12.4 +4%
--------------- ------------------- ---------
- Local currency 18.3 18.3 -
--------------- ------------------- ---------
- Corporate
debt 6.1 6.6 +8%
--------------- ------------------- ---------
- Blended debt 12.3 12.6 +2%
--------------- ------------------- ---------
Fixed income 48.6 49.9 +3%
--------------- ------------------- ---------
Equities 5.9 6.0 +2%
--------------- ------------------- ---------
Alternatives 1.5 1.3 -13%
--------------- ------------------- ---------
Total 56.0 57.2 +2%
--------------- ------------------- ---------
Assets under management increased by US$1.2 billion over the
period, comprising positive investment performance of US$3.8
billion and net outflows of US$2.6 billion.
The positive market environment this quarter, offset by some
institutional investors taking asset-allocation decisions, meant
that net outflows were approximately half the level of the previous
quarter. Net outflows were experienced in local currency, including
a reduction of US$0.4 billion in overlay, blended debt, external
debt and there was a small net outflow in the corporate debt theme.
Equities flows were neutral over the three months and there was a
return of capital from funds in the alternatives theme following
successful realisations.
Reflecting a modest easing of global macro concerns, the
Emerging Markets delivered strong returns over the quarter with the
main fixed income and equity benchmark indices rising by between 5%
and 10%. Ashmore's active investment processes delivered
outperformance in the period across a broad range of fixed income
and equity strategies, reflecting the typical profile of alpha
creation as markets begin to recover from oversold levels.
Mark Coombs, Chief Executive Officer, Ashmore Group plc,
commented:
"Emerging Markets' strong performance over the past three months
reflects a positive shift in investor sentiment against a backdrop
of light positioning and highly attractive valuations. Some of the
headwinds of 2022, such as the Fed's aggressive policy tightening,
are receding, China re-opening its economy will stimulate activity
more broadly, and a number of emerging countries are starting to
see deflation as a consequence of effective monetary policy action
over the past two years. Therefore, we expect investor risk
appetite to increase over the course of the next 12 months,
underpinning further market performance and ultimately leading to
capital flows into the Emerging Markets.
"Ashmore is well-positioned for this environment, with active
management delivering outperformance across equity and fixed income
strategies and current market valuations supporting further
performance in the years ahead."
Notes
Local currency AuM includes US$5.9 billion of AuM managed in
overlay/liquidity strategies (30 September 2022: US$6.3
billion).
For the translation of US dollar-denominated balance sheet
items, the GBP:USD exchange rate was 1.2029 at 31 December 2022 (30
June 2022: 1.2145; 31 December 2021: 1.3545). For the translation
of US dollar management fees, the average GBP:USD exchange rate
achieved for the first half of the financial year was 1.1795 (H1
2021/22: 1.3636).
Ashmore will announce its interim results in respect of the six
months ending 31 December 2022 on 8 February 2023.
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)7771 978 220
Kit Dunford +44 (0)7717 417 038
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTFLFVDLSIVLIV
(END) Dow Jones Newswires
January 16, 2023 02:00 ET (07:00 GMT)
Ashmore (LSE:ASHM)
Historical Stock Chart
From Apr 2024 to May 2024
Ashmore (LSE:ASHM)
Historical Stock Chart
From May 2023 to May 2024