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Money Management

Ashmore’s AUM inches up to $76.7 billion

Ashmore Group's assets under management increased 0.4% to an estimated $76.7 billion in the three months ended Dec. 31 on $500 million in net inflows and $200 million in investment losses.

The firm's AUM grew 10.3% in the 12 months ended Dec. 31, according to a financial update from the emerging markets specialist manager.

Net inflows were $1.9 billion for the previous quarter and $3.6 billion for the quarter ended Dec. 31, 2017.

Blended debt strategy assets were flat at $20.4 billion, and external debt assets were flat at $15.5 billion for the quarter ended Dec. 31.

Local currency assets were up 1.7% to $17.5 billion. Corporate debt assets increased 1.8% to $10.8 billion. Equity strategies increased 10% to $4.4 billion. Overlay and liquidity strategies improved 1.7% to $6.1 billion.

Alternative assets declined 5.9% to $1.6 billion and multiasset strategies dropped 60% to $400 million.

"Despite the more challenging markets experienced for much of 2018, client flows remain resilient reflecting investors' very low allocations to emerging markets and recognition of the value available," CEO Mark Coombs said in a news release.

Mr. Coombs added: "The effect of tax-related stimulus on the U.S. economy and its support for the U.S. dollar started to fade towards the year-end, removing the main headwind for emerging markets outperformance. The reduction in emerging markets asset prices despite improving economic growth suggests underweight investors will continue increasing allocations to emerging markets, and a return to the positive market trends experienced in 2016 and 2017."