Ashmore Group’s reported $54.6 billion assets under management as of Sept. 30, a 3.8% increase from three months earlier, driven by investment performance associated with an ongoing recovery in emerging markets.
For the year ended Sept. 30, Ashmore’s AUM rose 6.8%.
Ashmore’s overall net flows were flat, with small net inflows into blended debt, local currency and corporate debt strategies offset by outflows in equity strategies, the emerging markets specialist said in a financial update Friday.
Assets managed in blended debt strategies increased 6% over the quarter to $14.5 billion. Local currency strategies saw assets increase 3%, to $13.7 billion; external debt assets increased to $12.2 billion, up 4%; and corporate debt strategies increased 6% to total $5.3 billion. Overlay and liquidity strategy assets increased 3% to $3.2 billion. Assets in alternatives and multiasset strategies were flat for the quarter, at $1.5 billion and $1.2 billion, respectively. Equity strategies fell 3% in the quarter to $3 billion.
“The ongoing recovery in emerging markets asset prices through 2016 and the attractive returns on offer across a diverse range of investment themes are causing investors to reconsider their underweight positions,” CEO Mark Coombs said in the update.