Ashmore Group reported $75 billion in assets under management as of June 30, a 7% increase from three months earlier, due to a combination of net inflows and positive market performance. However, it was a 3% decrease compared with a year earlier.
The emerging markets money manager said total net inflows were $1.6 billion, while market gains added $3.3 billion.
Strategies across equities and fixed income benefited from net inflows, with corporate debt, blended debt and local currency assets in particular demand. The manager said in its financial update Thursday that multistrategy assets experienced institutional demand, offsetting expected outflows from Japanese retail funds. Multistrategy assets under management increased 12.5% in the quarter, to $2.7 billion, due to net inflows and positive investment performance.
However, external debt and overlay/liquidity strategies saw net outflows.
“Improving sentiment and the consequent market recovery have benefited those investors who remained focused on the economic and political fundamentals in emerging markets and who took the opportunity to invest in mispriced assets earlier in the year,” said CEO Mark Coombs in a statement accompanying the firm's financial report. “Looking ahead, the prospects for investment returns are enhanced by the ongoing development of the asset class. New countries being represented in indices broadens the diverse range of opportunities available and supports increasing allocations by dedicated investors.”