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Money Management

Ashmore Group assets rise 3.4% in quarter

Ashmore Group's assets under management increased 3.4% to an estimated $76.4 billion in the three months ended Sept. 30 on $1.9 billion in net inflows.

The firm's AUM grew 17.5% in the 12-month period, according to a financial update from the emerging markets specialist manager.

Net inflows were $2.6 billion for the previous quarter and $4.3 billion for the quarter ended Sept. 30, 2017.

Blended debt strategy assets increased 4% to $20.4 billion for the quarter ended Sept. 30. Local currency assets were up 1% to $17.2 billion; external debt assets improved 7% to $15.5 billion; and corporate debt assets increased 8% to $10.6 billion. Equity strategies were down 5% to $4 billion.

Overlay and liquidity strategies recorded a 3% decline to $6 billion, while alternative assets increased 13% to $1.7 billion. Multiasset strategies were flat in the quarter at $1 billion.

Investment performance was positive and accounted for $300 million of the increase in AUM, in addition to acquired AUM of $300 million, following the acquisition of real estate manager Avenida.

"Net inflows continued through the quarter as clients responded positively to the opportunities created by price volatility across a broad range of emerging markets asset classes," Mark Coombs, CEO of Ashmore Group, said in a news release. "Ashmore's active investment processes have been selectively adding risk and relative performance remains strong. Given the likelihood for mispricing around near term events such as elections in the U.S. and several emerging markets countries, we anticipate there will be more opportunities to buy attractively-valued assets and to embed long-term value into portfolios."