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Ashmore AuM rises in December quarter on positive investment performance
StockMarketWire.com
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Emerging markets asset manager Ashmore reported a rise in assets under management in the second quarter of the year following and positive investment performance.
For the quarter ended 31 December 2020, assets under management increased by US$7.5 billion, 9%, over the period to $93 billion, comprising positive investment performance of US$8.1 billion and net outflows of US$0.6 billion.
There were net inflows in the overlay/liquidity, external debt and equities themes, reflecting both new client wins and higher allocations to existing mandates, particularly in investment grade credit, the company said.
'While COVID will continue to affect individual countries differently, the deployment of vaccines supports the view that 2021 will see improved growth and importantly the growth in emerging countries is forecast to be higher than in the developed world,' the company said.
'This therefore provides an opportunity for investors to increase exposure to higher return Emerging Markets asset classes and to benefit from economic and market recoveries as they continue to develop in 2021.'
Story provided by StockMarketWire.com
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