Ashmore grows AUM by $1.9bn in Q1

Asset manager Ashmore Group said on Wednesday that assets under management had increased by $1.9bn in the three months ended 30 September.

Ashmore said its performance was made up of a positive investment performance of $2.7bn and net outflows of $800.0m.

The FTSE-250 listed firm stated the previously seen improving quarterly flow trend continued in the period and reflected diversified gross sales and a further decline in redemptions.

Ashmore added that its overlay/liquidity and equities themes delivered net inflows over the three months, while the group's net outflows were primarily in the blended debt theme, with external debt, local currency and corporate debt themes also resulting in outflows.

Chief executive Mark Coombs said: "While there are some near-term macro risks that may temper investors' risk appetite, such as Covid-19 and the US election, these environments have historically provided good investment opportunities for Ashmore's active processes to exploit and deliver outperformance for clients.

"At the same time, attractive valuations across equities and fixed income in emerging markets underpin returns notably when compared with those available in developed markets, and support ongoing incremental allocations."

As of 0830 BST, Ashmore shares were up 5.18% at 381.80p.