Ashmore sees modest rise in assets

UK fund manager Ashmore Group reported a small rise in assets in the fourth quarter, helped by inflows into debt products and a recovery in its core emerging markets.

Ashmore said on Thursday assets grew 2.5 per cent to £39.4bn.

A rocky period for emerging markets last year hit Ashmore's asset base and the fees it collects on funds.

Performance fees for funds having a performance ending in December were "minimal" as anticipated, Ashmore said, which meant overall performance fees for the six months to end-December were around £23m.