REG - Ashmore Group Plc - Trading Statement

AshmoreAnnouncement

14/10/2024 07:00

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RNS Number : 9568H  Ashmore Group PLC  14 October 2024

Ashmore Group plc

14 October 2024

FIRST QUARTER ASSETS UNDER MANAGEMENT STATEMENT

Ashmore Group plc ("Ashmore", "the Group"), the specialist Emerging Markets
asset manager, announces the following update to its assets under management
("AuM") in respect of the quarter ended 30 September 2024.

Assets under management

 Theme             Actual          Estimated           Movement

30 June 2024
30 September 2024
 (%)

                   (US$ billion)   (US$ billion)
 - External debt   7.2             7.8                 +8%
 - Local currency  17.7            18.3                +3%
 - Corporate debt  4.7             5.0                 +6%
 - Blended debt    11.7            12.2                +4%
 Fixed income      41.3            43.3                +5%
 Equities          6.7             7.3                 +9%
 Alternatives      1.3             1.2                 -8%
 Total             49.3            51.8                +5%

 

Assets under management increased by US$2.5 billion over the period,
comprising positive investment performance of US$3.2 billion and net outflows
of US$0.7 billion.

Emerging Markets delivered strong returns over the three months, with fixed
income indices rising by 4% to 9% and equities increasing by 8%. Ashmore's
active investment processes continued to outperform across both equities and
fixed income strategies over the quarter.

Net flows improved from previous quarters, driven by an increase in gross
subscriptions from institutional investors across a range of investment themes
and reduced redemptions. This pickup in activity is consistent with an
increase in investor risk appetite following improvements in the broader
macroeconomic environment and building on the positive returns delivered by
Emerging Markets over the past two years. By investment theme, there were net
inflows in external debt and equities, net outflows in local currency and
blended debt, and, following successful realisations, a net return of capital
to clients in alternatives funds.

Mark Coombs, Chief Executive Officer, Ashmore Group plc, commented:

"Emerging Markets performed well over the quarter, reflecting robust
macroeconomic conditions in emerging countries, the positive impact of lower
Fed rates weakening the US dollar, and targeted stimulus by the Chinese
authorities. Consequently, investor appetite has been increasing and
allocations to Emerging Markets should grow from the low current levels to
capture the value available across equity and fixed income asset classes.

"Ashmore's active investment approach continues to deliver outperformance for
clients, and the Group is well-positioned to benefit as client flows to
Emerging Markets gather momentum."

Notes

Local currency AuM includes US$7.7 billion of AuM managed in overlay/liquidity
strategies (30 June 2024: US$7.6 billion).

 

For further information please contact:

Ashmore Group plc

Paul Measday

Investor Relations                   +44 (0)20 3077 6278

 
ir@ashmoregroup.com

Cardew Group

Tom Allison                              +44
(0)7789 998020

Will Baldwin-Charles               +44 (0)7834 524833

 
ashmore@cardewgroup.com

 

 

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