Ashmore jumps on exposure to Venezuelan debt
By Michele Maatouk
Date: Monday 05 Jan 2026
(Sharecast News) - Emerging markets asset manager Ashmore jumped to the top of the FTSE 250 on Monday due to its exposure to Venezuelan debt, after the US capture over the weekend of leader Nicolas Maduro.
In the November 2025 update on its SICAV Emerging Markets Sovereign Debt Fund, Ashmore cited Venezuela as its biggest country exposure, at 7.1% of the fund.
Bonds in Venezuela's state-owned oil company, Petroleos De Venezuela, were cited at the top of its top 10 holding exposure, at 3.4% of the fund.
At 1240 GMT, the shares were up 4% at 182p, having earlier risen to as high as 199.70p.
Panmure Liberum analyst Rae Maile said: "Exposure to Venezuela has in the past been used as a stick to beat Ashmore with, so it is fair to see the share price rally.
"Much more importantly it is a reminder of why active management is important in emerging markets."
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