Ashmore Group PLC Trading Statement (9411B)
January 16 2018 - 02:00AM
UK Regulatory
TIDMASHM
RNS Number : 9411B
Ashmore Group PLC
16 January 2018
Ashmore Group plc
+0700 16 January 2018
SECOND 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 December 2017.
Assets under management
Actual Estimated
30 September 31 December
2017 2017 Movement
Theme (US$ billion) (US$ billion) (%)
---------------- --------------- --------------- ---------
External debt 14.4 15.0 +4%
---------------- --------------- --------------- ---------
Local currency 12.7 14.9 +17%
---------------- --------------- --------------- ---------
Corporate
debt 6.9 7.8 +13%
---------------- --------------- --------------- ---------
Blended debt 18.8 18.8 -
---------------- --------------- --------------- ---------
Equities 3.5 3.9 +11%
---------------- --------------- --------------- ---------
Alternatives 1.6 1.6 -
---------------- --------------- --------------- ---------
Multi-asset 1.1 1.2 +9%
---------------- --------------- --------------- ---------
Overlay /
liquidity 6.0 6.3 +5%
---------------- --------------- --------------- ---------
Total 65.0 69.5 +7%
---------------- --------------- --------------- ---------
Assets under management increased by US$4.5 billion during the
period, with net inflows of US$3.6 billion and positive investment
performance of US$0.9 billion.
The continued strong net inflows in the quarter are consistent
with this stage in the cycle as investors appreciate the high
returns available and look to address underweight positions. Gross
subscriptions increased from a broad range of clients, including
both additional allocations from existing investors and new
mandates. Net inflows were particularly strong in the local
currency theme as investors are now recognising the significant
value available. Net inflows were also delivered in the corporate
debt, overlay/liquidity, equities and external debt themes. Net
flows were broadly flat in the blended debt, alternatives and
multi-asset themes.
Ashmore delivered positive absolute performance in the quarter
across both fixed income and equities product ranges while
performance was flat in alternatives and overlay/liquidity.
Relative performance against both benchmarks and the peer group
continues to be very strong.
Mark Coombs, Chief Executive Officer, Ashmore Group plc,
commented:
"Emerging Markets assets have delivered strong absolute and
relative performance over the past two years leading to higher
client flows into the Group's funds. Additionally, competitive
currencies have been driving exports thus accelerating economic
growth across Emerging Markets. The next phase of the cycle should
see institutional flows stimulating domestic demand and so provide
for continued attractive returns, particularly from local
currency-denominated assets including equities. Our 2018 outlook is
for another year of outperformance across the range of Emerging
Markets asset classes."
Notes
1. For the translation of US dollar-denominated balance sheet
items, the GBP:USD exchange rate was 1.3513 at 31 December 2017 (30
June 2017: 1.2946; 31 December 2016: 1.2340). For the translation
of US dollar management fees, the average GBP:USD exchange rate
achieved for the first half of the financial year was 1.3259 (H1
2016/17: 1.2809).
Ashmore will announce its interim results in respect of the six
months ended 31 December 2017 on 8 February 2018.
Ashmore's Legal Entity Identifier (LEI) is
549300U3L59WB4YI2X12.
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
Laura Ewart +44 (0)20 3727 1160
This information is provided by RNS
The company news service from the London Stock Exchange
END
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