LONDON (ShareCast) - (Sharecast News) - Asset manager Ashmore said on Friday that total assets under management had fallen 12.5% in the three months ended 30 September as a result of $5.0bn in net outflows and a $3.0bn negative investment performance.
Ashmore said total assets under management dropped from $64.0bn at the end of June to $56.0bn in the third quarter, with the increase in net outflows predominantly stemming from institutional investors reducing exposure in the external debt, local currency, and blended debt themes.

The FTSE 250-listed firm also highlighted that continued high levels of inflation and more hawkish central banks around the world meant that the main emerging markets fixed income indices declined by between 3% and 6% over the quarter.

Chief executive Mark Coombs said: "Global fixed income and equity markets fell over the quarter reflecting continued uncertainty around geopolitical risks, higher inflation, and increasingly hawkish central banks. This has increased the risk of recession in many countries and pushed bond yields higher and equity valuations lower in both developed and emerging markets. Investor risk appetite, therefore, remains limited in the near term.

"Ashmore's active management means it can take advantage of attractive market levels to embed value in portfolios and consequently it is well positioned to deliver outperformance in the years ahead across its range of equity and fixed income strategies."





Reporting by Iain Gilbert at Sharecast.com

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