Ashmore Group's assets under management increased 11.2% to an estimated $85.3 billion in the three months ended March 31, bolstered by $5 billion net inflows and positive investment performance of $3.6 billion.
The emerging markets specialist firm's AUM grew 11.5% in the 12 months ended March 31. Net inflows were $500 million for the previous quarter and $6.4 billion for the quarter ended March 31, 2018.
According to a financial update Tuesday, blended debt strategy assets were up 7.8% at $22 billion, and local currency assets were up 9.1% to $19.1 billion.
External debt assets were up 7.7% at $16.7 billion for the quarter ended March. 31. Corporate debt assets increased 30.6% to $14.1 billion. Overlay and liquidity strategies improved 8.2% to $6.6 billion. Equity strategies increased 6.8% to $4.7 billion.
Alternative assets were flat in the quarter at $1.6 billion and multiasset strategies increased 25% to $500 million.
"Client activity levels picked up through the quarter following a slight pause at the end of 2018. This reflects a number of ongoing positive factors including investors' light positioning in emerging markets, the significant value available across a diverse range of investment themes, and slowing growth and political challenges in the developed world," Mark Coombs, CEO of Ashmore Group, said in a news release accompanying the update.