LONDON (ShareCast) - (Sharecast News) - Asset manager Ashmore Group said on Wednesday that assets under management increased $6.5bn in the three months ended 31 December 2019, reflecting net inflows of $3.3bn and an investment performance of $3.2bn.
Ashmore stated there were net inflows in the local currency, blended debt, overlay/liquidity and equities themes and net outflows in the corporate debt and external debt themes.

The FTSE 250-listed group's net inflows were broad-based by client type and geography and investment performance was also highlighted as being positive in its fixed income and equities wings.

Chief executive Mark Coombs said: "Ashmore's value-driven investment processes took advantage of lower asset prices in the second half of the year and added risk, inevitably resulting in some weakness in short-term fixed-income performance but also underpinning future outperformance.

"The outlook for capital flows to emerging markets in 2020 remains positive, based upon the continued availability of significant relative value and the diversity of investment opportunities across fixed income and equity asset classes, the lower growth and lack of yield in Developed Markets, and investors' underweight positions."

Looking forward, Coombs claimed Ashmore remained "well-positioned" to capture its share of higher allocations to emerging markets.

As of 0815 GMT, Ashmore shares were up 0.64% at 550.50p.

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