Ashmore Group, an investment manager focused on emerging markets, said assets under management in its fiscal fourth quarter rose 5% from the previous quarter, driven by gains from its investments and inflows of fresh money from new and existing clients. Estimated assets under management totaled $58.7 billion dollars as of June 30 up from $55.9 billion as of March 31, the company said on Friday on its website. From a year earlier assets rose 12%. The increase in assets was helped by positive investment performance of $1.6 billion and net inflows of $1.2 billion.
The gain was also supported by a 15% increase in corporate debt assets and a 10% increase in equities, with blended debt and alternatives also posting 7% increases each. Flows were flat in external debt, multi-asset and overlay and liquidity asset types, while local currency products had a net outflow as a results of redemption from a large institutional client. Absolute returns on investment in emerging markets assets outperformed developed markets fixed income and equity markets, the asset manager said.