Emerging markets asset manager Ashmore saw inflows rise and banked larger returns for its clients in the second quarter.
Assets under management(AuM) increased by $4.5bn (£3.25bn) over the period, comprising net inflows of $1.1bn and positive investment performance of $3.4bn.
The FTSE-listed asset manager said in its trading update this morning that in the three months to 30 June emerging markets performed well and recovered most of the losses from the previous quarter.
Ashmore now looks after $94.4bn in assets for its clients.
The asset manager’s CEO Mark Coombs said this morning: “Ashmore’s strong relative investment performance and a consistent recovery in net flows, supported by positive market performance, have delivered AuM growth of 13 per cent or nearly $11bn over the past 12 months and five per cent growth in this quarter.
“Overall, developing countries are emerging from the Covid-19 pandemic in a stronger position than developed markets: economic growth is higher, debt levels are manageable even after the recent fiscal stimulus, inflation is under control and hawkish central banks should ensure that remains the case”.
Investors this morning, were not so impressed, however, with shares sliding 1.1 per cent to 404p.