Wednesday 15 January 2020 1:41 pm

Ashmore assets under management near $100bn after strong inflows

Positive investor sentiment towards emerging markets has helped boost specialist asset manager Ashmore close to the $100bn (£77bn) assets under management (AUM) milestone. 

In an update to the stock exchange today, Ashmore reported a 7.1 per cent increase in AUM, which jumped $6.5bn in the three months to 31 December to $98.4bn.

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The FTSE 250 company said a combination of net inflows and positive market movements were behind the increase.

Ashmore recorded net inflows of $3.3bn during the quarter, as well as investment performance of $3.2bn.

“Emerging markets delivered strong returns in calendar 2019 with the main benchmark indices delivering double-digit returns and largely outperforming developed world markets,” said chief executive Mark Coombs.

Ashmore saw quarterly inflows across its local currency, equities, blended debt and overlay/liquidity divisions. 

These inflows were partially offset by outflows across its corporate debt and external debt themes.

“The outlook for capital flows to emerging markets in 2020 remains positive,” said Coombs.

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Coombs said this assessment was based on “the continued availability of significant relative value and the diversity of investment opportunities across fixed income and equity asset classes, the lower growth and lack of yield in developed markets, and investors’ underweight positions.”

Ashmore shares were trading 0.64 per cent up in lunchtime trading.