Ashmore Group PLC Trading Statement (5637V)
April 19 2016 - 2:00AM
UK Regulatory
TIDMASHM
RNS Number : 5637V
Ashmore Group PLC
19 April 2016
Ashmore Group plc
+0700 19 April 2016
THIRD QUARTER ASSETS UNDER MANAGEMENT STATEMENT
Ashmore Group plc ("Ashmore", "the Group"), the specialist
Emerging Markets asset manager, announces today the following
update to its assets under management ("AuM") in respect of the
quarter ended 31 March 2016.
Assets under management
Actual Estimated Movement
31 December 31 March
2015 2016 Q3 vs Q2
Theme (US$ billion) (US$ billion) (%)
---------------- --------------- --------------- ----------
External debt 10.8 11.0 +2%
---------------- --------------- --------------- ----------
Local currency 12.0 13.1 +9%
---------------- --------------- --------------- ----------
Corporate
debt 4.8 4.6 -4%
---------------- --------------- --------------- ----------
Blended debt 13.3 13.7 +3%
---------------- --------------- --------------- ----------
Equities 3.2 3.1 -3%
---------------- --------------- --------------- ----------
Alternatives 1.4 1.5 +7%
---------------- --------------- --------------- ----------
Multi-asset 1.2 1.2 -
---------------- --------------- --------------- ----------
Overlay /
liquidity 2.7 3.1 +15%
---------------- --------------- --------------- ----------
Total 49.4 51.3 +4%
---------------- --------------- --------------- ----------
Assets under management increased by US$1.9 billion over the
period through positive investment performance of US$3.0 billion
and net outflows of US$1.1 billion.
Net outflows were experienced in blended debt, external debt,
corporate debt, multi-asset and local currency. Overlay/liquidity
had a net inflow and in the alternatives theme, capital was raised
into a private equity infrastructure fund in Colombia.
The quarter saw strong returns from Emerging Markets assets as
value was recognised and prices recovered from over-sold levels
earlier in the period. Investment performance was particularly
strong in local currency, as Emerging Markets currencies
strengthened against the US dollar, blended debt and external debt.
Corporate debt, multi-asset and overlay/liquidity also delivered
positive investment performance during the quarter, while the
equities theme experienced slightly negative performance.
Mark Coombs, Chief Executive Officer, Ashmore Group plc,
commented:
"Markets rallied towards the end of the quarter as some of the
headwinds that have affected sentiment and held back returns, such
as the falling oil price and strong US dollar, started to recede.
There continues to be substantial absolute and relative value
available in Emerging Markets, supporting our view that investors
should be looking to increase their allocations. In previous
cycles, asset flows typically lagged the initial strong recovery in
prices and we anticipate a similar pattern in this cycle as
investors recognise the breadth of diverse return opportunities
across a broad range of Emerging Markets investment themes."
Home member state disclosure
Pursuant to the Transparency Directive Amending Directive
(2013/50/EU) and DTR 6.4.2, Ashmore Group plc announces that its
home state is the United Kingdom.
Ashmore Group plc has 707,372,473 shares in issue at the date of
this notification.
For further information please contact:
Ashmore Group plc
Paul Measday
Investor Relations +44 (0)20 3077 6278
FTI Consulting
Andrew Walton +44 (0)20 3727 1514
Paul Marriott +44 (0)20 3727 1341
This information is provided by RNS
The company news service from the London Stock Exchange
END
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