UK's Ashmore first-quarter inflows beat expectations on emerging market resilience
UK's Ashmore first-quarter inflows beat expectations on emerging market resilience Oct 14 (Reuters) - Asset manager Ashmore ASHM.L reported first-quarter net inflows ahead of expectations on Wednesday, as investors kept piling money into emerging market assets despite a selloff in global bond markets.
Here are some details from the company:
Ashmore posted net inflows of $1.1 billion for the quarter ended September 30, ahead of company-compiled consensus estimates of $900 million
All investment themes achieved net inflows, except corporate debt, which was flat
Developed-market bond yields spiked late in the quarter, but emerging markets' relative strength kept client responses and asset-price reactions subdued, CEO Mark Coombs said
Assets under management rose 1% to $54.5 billion at September 30 from $54.0 billion three months earlier
Gross redemptions fell to their lowest quarterly level in more than 15 years, helping support net inflows despite market volatility
(Reporting by Atharva Singh in Bengaluru; Editing by Rashmi Aich)