LONDON (dpa-AFX) - Ashmore Group plc. (ASHM.L), a specialist Emerging Markets asset manager, reported Friday that its first-quarter assets under management increased 4 percent to $54.6 billion from preceding fourth quarter's $52.6 billion, driven solely by positive investment performance. Net flows were flat for the three months.
The company said the neutral net flow for the quarter resulted from small net inflows into the blended debt, local currency, corporate debt and overlay/liquidity themes. These were offset by equally small net outflows from equities, external debt, and multi-asset. Flows were flat in the alternatives theme during the period.
Mark Coombs, Chief Executive Officer, said, 'The continued improvement in net flows is encouraging in what is typically a quiet quarter. The stability of Emerging Markets over recent months contrasts with the volatility experienced during the same period in 2015 and 2014. The ongoing recovery in Emerging Markets asset prices through 2016 and the attractive returns on offer across a diverse range of investment themes are causing investors to reconsider their underweight positions.'
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