Ashmore Group plc
14 October 2024
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 2024.
Assets under management
|
Theme
|
Actual
30 June 2024
(US$
billion)
|
Estimated
30 September 2024
(US$
billion)
|
Movement
(%)
|
|
- External debt
|
7.2
|
7.8
|
+8%
|
|
- Local currency
|
17.7
|
18.3
|
+3%
|
|
- Corporate debt
|
4.7
|
5.0
|
+6%
|
|
- Blended debt
|
11.7
|
12.2
|
+4%
|
|
Fixed income
|
41.3
|
43.3
|
+5%
|
|
Equities
|
6.7
|
7.3
|
+9%
|
|
Alternatives
|
1.3
|
1.2
|
-8%
|
|
Total
|
49.3
|
51.8
|
+5%
|
Assets under management increased by
US$2.5 billion over the period, comprising positive investment
performance of US$3.2 billion and net outflows of US$0.7
billion.
Emerging Markets delivered strong
returns over the three months, with fixed income indices rising by
4% to 9% and equities increasing by 8%. Ashmore's active investment
processes continued to outperform across both equities and fixed
income strategies over the quarter.
Net flows improved from previous
quarters, driven by an increase in gross subscriptions from
institutional investors across a range of investment themes and
reduced redemptions. This pickup in activity is consistent with an
increase in investor risk appetite following improvements in the
broader macroeconomic environment and building on the positive
returns delivered by Emerging Markets over the past two years. By
investment theme, there were net inflows in external debt and
equities, net outflows in local currency and blended debt, and,
following successful realisations, a net return of capital to
clients in alternatives funds.
Mark Coombs, Chief Executive
Officer, Ashmore Group plc, commented:
"Emerging Markets performed well
over the quarter, reflecting robust macroeconomic conditions in
emerging countries, the positive impact of lower Fed rates
weakening the US dollar, and targeted stimulus by the Chinese
authorities. Consequently, investor appetite has been increasing
and allocations to Emerging Markets should grow from the low
current levels to capture the value available across equity and
fixed income asset classes.
"Ashmore's active investment
approach continues to deliver outperformance for clients, and the
Group is well-positioned to benefit as client flows to Emerging
Markets gather momentum."
Notes
Local currency AuM includes US$7.7
billion of AuM managed in overlay/liquidity strategies (30 June
2024: US$7.6 billion).
For further information please
contact:
Ashmore Group plc
Paul Measday
Investor
Relations
+44 (0)20 3077 6278
ir@ashmoregroup.com
Cardew Group
Tom
Allison
+44 (0)7789 998020
Will
Baldwin-Charles
+44 (0)7834 524833
ashmore@cardewgroup.com