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Ashmore Group PLC on Friday said a drop in assets under management contributed to lower revenue in the first half of the financial year. Shares in Ashmore were 1.4% lower at 169.20 pence each in London on Friday morning. The London-based investment firm said pretax profit plunged 33% to £49.9 million in the six months to December 31 from £74.5 million a year prior, while diluted earnings per share declined 37% to 5.36 pence from 8.47p. Net revenue fell 14% to £81.0 million from £94.5 million a year prior, reflecting lower average assets under management. Within this, net management fee income declined by 17% to £69.3 million from £83.7 million. Assets under management edged down to $48.8 billion at the end of December from $49.3 billion at June 30, 2024. Average AuM of $50.1 billion over the six-month period was 6.0% lower than $53.3 billion a year prior. Investment performance added $0.6 billion and net outflows of $1.1 billion were significantly lower than in the prior year period, $4.5 billion net outflow, and the preceding six months, $4.0 billion. However, the company left its dividend unchanged at 4.8p per share. Mark Coombs, chief executive, said: ‘Ashmore’s net flows continue to improve and AuM was largely unchanged at the end of the period. ‘Ongoing strong control of operating costs helped to mitigate the impact of lower average AuM on the financial results, and the group continues to invest in strategic growth and diversification opportunities including through its seed capital investments.’ Copyright 2025 Alliance News Ltd. All Rights Reserved.
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