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Money Management

Ashmore’s AUM rises 6.9% in quarter on $3.6 billion in net inflows

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Emerging markets specialist manager Ashmore Group recorded net inflows of $3.6 billion for the three months ended Dec. 31, helping to bolster assets under management 6.9% to $69.5 billion.

Assets under management grew 33% over the 12 months ended Dec. 31.

Net inflows were $4.3 billion for the three months ended Sept. 30. Ashmore recorded net outflows of $700 million in quarter ended Dec. 31, 2016, according to a financial update.

Overlay and liquidity strategies recorded a 5% increase in AUM to $6.3 billion in the quarter, while blended debt strategies and alternative assets were flat in the quarter at $18.8 billion and $1.6 billion, respectively. External debt assets grew 4% to $15 billion and local currency assets grew 17% to $14.9 billion, while corporate debt assets grew 13% to $7.8 billion and equities strategies were up 11% to $3.9 billion. Investment performance accounted for $900 million in total AUM gains in the quarter.

"Competitive currencies have been driving exports, thus accelerating economic growth across emerging markets. The next phase of the cycle should see institutional flows stimulating domestic demand and so provide for continued attractive returns, particularly from local currency-denominated assets, including equities," said CEO Mark Coombs in a news release.