Ashmore Group's assets under management increased 7.6% to $91.8 billion in the three months ended June 30, bolstered by $3.3 billion net inflows and positive investment performance of $3.2 billion.
The emerging markets specialist's AUM grew 24% in the 12 months ended June 30. Net inflows were $5 billion for the previous quarter and $2.6 billion for the quarter ended June 30, 2018.
According to a financial update Friday, blended debt strategy assets were up 5% at $24.3 billion, and local currency assets were up 9.4% to $19.7 billion. External debt assets were up 14.4% at $19.1 billion for the quarter ended June 30. Corporate debt assets increased 10% to $15.5 billion. Overlay and liquidity strategies improved 1.5% to $6.7 billion. Equity strategies declined 6.4% to $4.4 billion.
Alternative assets and multiasset strategies were flat in the quarter at $1.6 billion and $500 million, respectively.
"The group's focused strategy is successfully driving higher allocations to emerging markets and diversifying Ashmore's business," CEO Mark Coombs said in a news release. "The outlook for emerging markets remains positive, with supportive economic fundamentals, attractive valuations in fixed income and equities, limited opportunities in developed markets and a clear opportunity to continue raising investor allocations to higher, more representative levels."
