Ashmore assets under management rise 7% in Q2

Total assets under management were up 7% to $69.5bn, with net inflows of $3.6bn. Ashmore, which focuses on emerging markets, said the continued strong net inflows are consistent with this stage in the cycle, as investors appreciate the high returns available and look to address underweight positions. Gross subscriptions increased from a broad range of clients, including both additional allocations from existing investors and new mandates.

Meanwhile, net inflows were particularly strong in the local currency theme as investors are now recognising the significant value available, Ashmore said.

Ashmore delivered positive absolute performance in the quarter across both fixed income and equities product ranges, while its performance in alternatives and overlay/liquidity was flat.

Chief executive Mark Coombs said: "Emerging markets assets have delivered strong absolute and relative performance over the past two years leading to higher client flows into the group's funds. Additionally, competitive currencies have been driving exports thus accelerating economic growth across emerging markets.

"The next phase of the cycle should see institutional flows stimulating domestic demand and so provide for continued attractive returns, particularly from local currency-denominated assets including equities. Our 2018 outlook is for another year of outperformance across the range of emerging markets asset classes."