LONDON (dpa-AFX) - Ashmore Group Plc (ASHM) that specializes as asset manager of emerging markets, on Thursday said Assets Under Management at the end of the fourth quarter ended 30 June declined 18.3 percent to $64 billion, versus $78.3 billion at the end of March 2022.
Assets under management declined by US$14.3 billion over the period, comprising net outflows of US$6.6 billion and negative investment performance of US$7.7 billion.
The fixed income portfolio declined 18.6 percent to $56.3 billion, versus $69.2 billion at the end of March. Local currency themed AUM saw the biggest decline of 22.5 percent, dropping to $20.7 billion, from the level of $26.7 billion earlier. The local currency net redemptions were primarily from low margin institutional accounts, including overlay outflows of US$2.5 billion reflecting lower market levels.
Equities portfolio declined 16.2 percent whereas alternatives declined 11.8 percent between March and June of 2022.
With broad-based risk aversion across asset classes globally, the main Emerging Markets indices fell by between 6 percent and 16 percent over the three months resulting in quarterly underperformance, the company said.
Shares of Ashmore Group are currently trading at 205 pence, up 0.40 pence or 0.20 percent from the previous close.
Copyright(c) 2022 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2022 AFX News