LONDON (ShareCast) - (Sharecast News) - Investment manager Ashmore said on Wednesday that outflows had nearly halved during Q2 as it continued to deal with the impacts of a stronger US dollar.
Ashmore said outflows fell to $400.0m in the quarter, down from $700.0m in Q1, while assets under management decreased by 6% to $51.8bn.

The FTSE 250-listed firm also noted that the ongoing improvement in net flows compared with recent quarters was the result of continuing subscriptions and reduced redemptions, as investors increasingly acknowledged the opportunities available in emerging markets.

Chief executive Mark Coombs said: "While market conditions were more volatile this quarter, particularly leading up to the US election, the Group's flows continue to improve as clients increasingly recognise emerging markets' resilience and the delivery of outperformance by Ashmore's established, active investment processes.

"Global capital markets are likely to remain sensitive to the new US administration's policy announcements. If, as was the case following the 2016 US election, the campaign rhetoric exaggerates the policies ultimately implemented then the conditions exist for meaningful upside to current emerging markets asset prices to be delivered and for investors to address their significantly underweight emerging markets allocations."

As of 0915 GMT, Ashmore shares were up 5.11% at 154.40p.









Reporting by Iain Gilbert at Sharecast.com

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