Ashmore final quarter AuM unchanged

11th Jul 2013 07:38

Fund manager Ashmore said assets under management during the final quarter were unchanged from the same time a year earlier as market conditions turned more challenging towards the end of the period.The London based firm said AuM in the quarter ended June 30th 2013 stood at $77.4bn. Net inflows of $4.5bn were recorded during the period, helped by strong demand from emerging markets, local currency and corporate debt. Alternative products also saw good demand however inflows were offset by a negative investment performance of $4.8bn, the group explained."Market conditions were clearly more challenging towards the end of the quarter, but emerging markets fundamentals remain intact and attractive investment opportunities have become apparent across a range of fixed income and equity assets," said Chief Executive and founder Mark Coombs.He added that Ashmore continues to perform in line with management's expectations. The group announces its full year results in September.CJ