Ashmore Q4 assets under management up 5%

Emerging markets asset manager Ashmore reported a 5% jump in fourth-quarter assets on Friday thanks to a positive investment performance and net inflows.

Total assets under management rose to $58.7bn, with net inflows of $1.2bn and a positive investment performance of $1.6bn.

The FTSE 250 company said momentum in gross sales continued across the product range in the quarter and gross redemptions fell again on the quarter. Meanwhile, subscriptions were from a diverse range of client types, and included both new mandates and additional allocations from existing clients.

Net inflows were delivered in blended debt, corporate debt, equities and alternatives, while flows were flat in external debt, multi-asset and overlay/liquidity.

Chief executive officer Mark Coombs said: "Ashmore has performed well over the past 12 months, delivering a 12% increase in AuM through strong investment performance and net inflows in the past two quarters. Emerging markets asset prices have started to reflect the resilient fundamentals of the underlying economies and investor activity levels are responding.

“Looking ahead, there is substantial absolute and relative value still available in emerging markets and investor allocations have much further to run from their significantly underweight levels."