Ashmore Group, a British specialist emerging markets asset manager, has said that its assets under management (AuM) in the fiscal fourth quarter increased to US$75 billion through a combination of net inflows totalling US$1.6 billion and positive investment performance of US$3.3 billion.
For the quarter ended 30 June 2014, net inflows were delivered across a range of fixed income and equities themes, the company said in a statement.
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"The flows reflect a broad mix of clients by type and domicile, and were balanced in respect of mandate size. There was good demand for blended debt, corporate debt and local currency assets, while multi-strategy experienced institutional demand which offset the expected outflows from Japanese retail funds. There were net outflows in the external debt and overlay/liquidity themes," the statement added.
The implementation of the group’s long-standing investment processes resulted in portfolios buying into opportunities presented by the numerous periods of market weakness over the past 12 months.
This approach delivered positive investment performance over the quarter with all themes contributing except alternatives and overlay/liquidity, which were flat.
The group’s investment returns were particularly strong in the blended debt, local currency, external debt and equities themes.
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By GlobalDataMark Coombs, CEO of Ashmore Group, commented: "Improving sentiment and the consequent market recovery have benefited those investors who remained focused on the economic and political fundamentals in Emerging Markets and who took the opportunity to invest in mis-priced assets earlier in the year.
"Looking ahead, the prospects for investment returns are enhanced by the on-going development of the asset class. New countries being represented in indices broadens the diverse range of opportunities available and supports increasing allocations by dedicated investors."
