Ashmore rises as pension funds, governments boost inflows

Ashmore Group's assets under management increased 22% to $77.4 billion in the year ended June 30, as both revenue and earnings before interest, tax, depreciation and amortization in the period rose by 7%.

The emerging markets manager reported $13.4 billion of net inflows for the year ended June 30, compared with $1.3 billion in 2012, as pension funds and sovereign wealth funds continued to invest in emerging markets.

“We continued to have inflows in May and June,” Graeme Dell, Ashmore's finance director, said in a telephone interview Tuesday. “This is reflected in a number of factors, including our predominantly institutional base, which takes longer-term views. Fundamentals within emerging market economies are very strong.”

Ashmore's investors helped the company defy a slump in assets for fund managers focused on developing markets that has been triggered by concern the Federal Reserve will start to taper its record stimulus program as soon as this month. Scotland's Aberdeen Asset Management reported its first quarterly outflows since 2011 in July as clients pulled money from its equity and emerging markets funds.