Emerging market investor Ashmore said this morning its assets under management rose by 6.8 per cent in the three months to September, as inflows from Asian and Middle East government investors boosted the asset manager.
Over its first quarter, assets increased to $68bn (£42.5bn). Positive investment performance accounted for $3.7bn, while inflows accounted for $600m.
London-based Ashmore has grown rapidly in recent years as more investors decide to buy into funds that bet on fast-growing emerging markets.
However, the group, which was recently demoted from the FTSE 100, has also seen the amount of fees it earns on the money it manages come under pressure, amid greater competition for emerging markets funds and an investor shift towards less lucrative products.
City A.M. Reporter