EMERGING markets specialist Ashmore has kept its assets under management broadly steady at $77.4bn (£51.3bn) in the last quarter.
The firm said local currency and corporate debt attracted the most new cash during the three months to the end of June, taking the total invested in these strategies to $17.6bn and $6.1bn respectively.
“Market conditions were clearly more challenging towards the end of the quarter, but emerging markets fundamentals remain intact and attractive investment opportunities have become apparent across a range of fixed income and equity assets,” said chief executive Mark Coombs in the statement. .
Espirito Santo analyst Phil Dobbin said Ashmore had beaten his forecasts. “We view this as a strong performance against a difficult background, albeit the market shake-out came late in the quarter,” he said in a note.