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Ashmore Group PLC on Monday highlighted ‘robust macroeconomic conditions’ in emerging markets as lower US interest rates weaken the dollar. The London-based emerging markets-focused investment manager said assets under management rose 5.1% to $51.8 billion as at September 30 from $49.3 billion at June 30. Chief Executive Officer Mark Coombs said: ‘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.’ Looking ahead, CEO Coombs said that its investment approach continued ‘to deliver outperformance for clients’ as the firm was well-positioned to benefit from client flows to emerging markets. Ashmore Group shares rose 5.8% to 205.80 pence each on Monday morning in London. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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