Ashmore Group PLC Trading Statement (5114C)
April 18 2017 - 2:00AM
UK Regulatory
TIDMASHM
RNS Number : 5114C
Ashmore Group PLC
18 April 2017
Ashmore Group plc
+0700 18 April 2017
THIRD QUARTER ASSETS UNDER MANAGEMENT STATEMENT
Ashmore Group plc ("Ashmore", "the Group"), the specialist
Emerging Markets asset manager, announces the following update to
its assets under management ("AuM") in respect of the quarter ended
31 March 2017.
Assets under management
Actual Estimated Movement
31 December 31 March
2016 2017 Q3 vs Q2
Theme (US$ billion) (US$ billion) (%)
------------------ --------------- --------------- ----------
External debt(1) 11.4 12.9 +13%
------------------ --------------- --------------- ----------
Local currency 12.4 13.5 +9%
------------------ --------------- --------------- ----------
Corporate
debt 5.2 5.5 +6%
------------------ --------------- --------------- ----------
Blended debt(1) 14.1 13.6 -4%
------------------ --------------- --------------- ----------
Equities 2.9 3.1 +7%
------------------ --------------- --------------- ----------
Alternatives 1.5 1.4 -7%
------------------ --------------- --------------- ----------
Multi-asset 1.1 1.1 -
------------------ --------------- --------------- ----------
Overlay /
liquidity 3.6 4.8 +33%
------------------ --------------- --------------- ----------
Total 52.2 55.9 +7%
------------------ --------------- --------------- ----------
Assets under management increased by US$3.7 billion during the
period, comprising positive investment performance of US$2.3
billion and net inflows of US$1.4 billion.
Net inflows were driven by an increase in the level of gross
subscriptions, through both new mandates and incremental
allocations from existing clients, and a reduction in redemptions.
Net inflows were experienced in the overlay/liquidity, local
currency, external debt and corporate debt themes. Net flows into
equities and alternatives were flat, while blended debt and
multi-asset experienced net outflows over the period.
Emerging Markets performed well over the quarter both in
absolute terms and relative to Developed Markets, and Ashmore's
investment processes continue to deliver strong outperformance
versus benchmarks. Investment performance was greatest in local
currency, and blended debt, external debt, corporate debt, equities
and multi-asset also delivered positive investment returns over the
quarter. Performance in the overlay/liquidity theme was flat and
slightly negative in the alternatives theme.
Mark Coombs, Chief Executive Officer, Ashmore Group plc,
commented:
"Ashmore delivered the anticipated return to net inflows this
quarter, generated from a diverse range of existing and new
clients, and the Group's investment processes are continuing to
deliver strong performance over one, three and five years. The
outperformance of Emerging Markets reflects accelerating economic
growth and attractive absolute and relative valuations across
Emerging Markets equity and fixed income markets. This increases
the pressure on investors to address their underweight
allocations."
Notes
1. There was a US$0.8 billion reclassification of assets from
blended debt to external debt in the quarter following a change in
investment guidelines for those assets. The above commentary on
flows has been adjusted for the reclassification and it had no
other material financial impact.
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
Kit Dunford +44 (0)20 3727 1143
This information is provided by RNS
The company news service from the London Stock Exchange
END
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