LONDON (dpa-AFX) - Ashmore Group Plc (ASHM.L), a British investment manager, on Friday said it estimates that its assets under management or AUM to sequentially decline for the first quarter, reflecting net outflows of $5 billion and negative investment performance of $3 billion.
For the quarter ended on September 30, the London-based firm said that its AUM fell to $56 billion from $64 billion for the previous quarter.
Fixed income was at $48.6 billion as against $56.2 billion, reported for the June quarter.
External debt stood at $11.9 billion, lesser than $14.4 billion reported for the three-month period to June.
Mark Coombs, CEO of Ashmore Group Plc, 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 and Ashmore's AuM movement this quarter reflects the impact of lower market levels and investors continuing to reduce risk.'
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