Ashmore has seen its assets under management swell to a near $95bn over the past year, which its boss has put down to the “picking up” of economic recovery.
Assets increased by 13 per cent to a total of $94.4bn in the year to 30 June, as it recorded an investment performance of $9.6bn.
Shares sank 2.79 per cent to 383.8p per share in its afternoon trading.
The asset manager, which specialises in emerging markets, also saw net flows of some $1.2bn in the period.
Profit before tax grew 28 per cent to £282.2m, while the firm posted a sturdy cash flow of £213.1m.
“As vaccination rates increase across the world and governments ease social restrictions, economic activity is picking up and reinforcing the emerging markets growth premium, and hawkish central banks in many emerging countries are acting to contain inflation,” CEO Mark Coombs said in a statement.
“This environment provides attractive opportunities for investors to increase allocations with heavily discounted equity valuations in emerging markets and high real yields compared with the negative rates in developed markets.”
The firm’s investments also delivered seed capital gains of £92.5m.
“Against this positive backdrop, Ashmore’s investment performance track record positions the firm well to capitalise on the significant opportunities available across the diversified emerging markets.”