LONDON (dpa-AFX) - Ashmore Group plc (ASHM.L), a specialist Emerging Markets asset manager, reported Tuesday that its assets under management or AuM for the fourth -quarter was $83.6 billion, up 9 percent from $76.8 billion recorded in the third-quarter ended March 31.
AuM increased by $6.8 billion over the quarter, reflecting positive investment performance of $9.0 billion and net outflows of $2.2 billion.
The company reported that investment performance was positive in all the fixed income themes, equities and multi-asset, and flat in the other themes.
Mark Coombs, Chief Executive Officer, said, 'The global macroeconomic outlook remains uncertain, and the experience of individual countries will vary considerably, but it is increasingly apparent that the Emerging Markets in aggregate are less likely to suffer a recession as severe as that in the developed world. Meanwhile, current valuations are discounting a different scenario with Emerging Markets assets trading at significantly more attractive levels than the equivalent developed world bond and equity markets.'
Ashmore will announce its results for the year ended June 30 on September 11.
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