Ashmore Group PLC Trading Statement (0496L)
July 14 2017 - 2:00AM
UK Regulatory
TIDMASHM
RNS Number : 0496L
Ashmore Group PLC
14 July 2017
Ashmore Group plc
+0700 14 July 2017
FOURTH 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
30 June 2017.
Assets under management
Actual Estimated Movement
31 March
2017 30 June 2017 Q4 vs Q3
Theme (US$ billion) (US$ billion) (%)
---------------- --------------- --------------- ----------
External debt 12.9 13.3 +3%
---------------- --------------- --------------- ----------
Local currency 13.5 13.7 +1%
---------------- --------------- --------------- ----------
Corporate
debt 5.5 6.3 +15%
---------------- --------------- --------------- ----------
Blended debt 13.6 14.6 +7%
---------------- --------------- --------------- ----------
Equities 3.1 3.4 +10%
---------------- --------------- --------------- ----------
Alternatives 1.4 1.5 +7%
---------------- --------------- --------------- ----------
Multi-asset 1.1 1.1 -
---------------- --------------- --------------- ----------
Overlay /
liquidity 4.8 4.8 -
---------------- --------------- --------------- ----------
Total 55.9 58.7 +5%
---------------- --------------- --------------- ----------
Assets under management increased by US$2.8 billion during the
period, comprising positive investment performance of US$1.6
billion and net inflows of US$1.2 billion.
Momentum in gross sales continued across the product range in
the quarter and gross redemptions reduced again quarter-on-quarter.
Subscriptions were from a diverse range of client types, and
included both new mandates and additional allocations from existing
clients. Net inflows were delivered in blended debt, corporate
debt, equities and alternatives, while flows were flat in external
debt, multi-asset and overlay/liquidity. Local currency experienced
a net outflow as a consequence of a large institutional account
redemption.
Emerging Markets assets continued to deliver good absolute
returns during the quarter and outperformed developed world fixed
income and equity markets. Ashmore's investment processes generated
positive investment performance across its fixed income and
equities investment themes, with particularly strong performance in
local currency followed by external debt. Performance was flat in
multi-asset, alternatives and overlay/liquidity. The Group's
investment track record relative to benchmarks remains strong over
one, three and five years.
Mark Coombs, Chief Executive Officer, Ashmore Group plc,
commented:
"Ashmore has performed well over the past 12 months, delivering
a 12% increase in AuM through strong investment performance and net
inflows in the past two quarters. Emerging Markets asset prices
have started to reflect the resilient fundamentals of the
underlying economies and investor activity levels are responding.
Looking ahead, there is substantial absolute and relative value
still available in Emerging Markets and investor allocations have
much further to run from their significantly underweight
levels."
Notes
1. For the translation of US dollar-denominated balance sheet
items, the GBP/USD exchange rate was 1.2946 at 30 June 2017 (30
June 2016: 1.3234; 31 December 2016: 1.2340). For the translation
of US dollar management fees, the average GBP/USD exchange rate
achieved for the financial year was 1.2766 (FY2015/16: 1.4759).
Ashmore will announce its financial results in respect of the
year ended 30 June 2017 on 7 September 2017.
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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