Down from north of 400p to present 260p.

Odey are short 5%.

I've started buying for recovery and prospect of Odey short covering.

Risky with oil/Russia woes but the dividend is covered and must be nearly 7%.

StockMarketWire.com
Asset manager Ashmore reported Friday lower annual profits despite growing assets under management by more than a quarter amid record net inflows.

For the year ended 30 June, statutory profit before tax fell to £191.3m from £206.2m a year earlier, and net revenue increased to £276.3m from £257.6m.

Gains on investment securities fell to £3m, compared with £22.4m a year earlier, weighing on profit growth.

Assets under management increased 26% to $73.9bn from $58.7bn, and net inflows rose 47% to $16.9bn, the highest delivered by the group in a financial year.

Gross subscriptions doubled to $30.0bn, while redemptions were roughly flat at $13.1 billion for the year, compared to last year in absolute terms.

The asset manager gave an upbeat outlook on emerging markets, insisting that the wobble in emerging markets represented an opportunity rather than doom and gloom. 'Ashmore has delivered a strong operating performance over the financial year, driven by continued investment outperformance, record inflows, an ongoing commitment to cost discipline and good cash generation,' said ark Coombs, Chief Executive Officer, Ashmore Group . 'While asset prices were more volatile in the final quarter of the financial year, this largely reflected nervousness about a small number of emerging countries with particular issues such as Turkey, with the market extrapolating these concerns across the broad and highly diverse Emerging Markets universe of more than 70 countries. This mispricing therefore presents another very appealing entry point for investors.'

UBS today reaffirms its buy investment rating on Ashmore Group PLC (LON:ASHM) and cut its price target to 425p (from 445p).