LONDON (dpa-AFX) - Ashmore Group Plc (ASHM.L), an asset manager focused on emerging markets, said in a trading update for the quarter to December 31, 2022 that its assets under management have gone up with modest easing of global macro concerns, which supported emerging markets to deliver strong returns over the quarter.
For the December quarter, the assets under management have increased to $57.2 billion, from the immediately preceding quarter's $56 billion, comprising positive investment performance of $3.8 billion and net outflows of $2.6 billion.
Mark Coombs, CEO of Ashmore Group, said: 'Emerging Markets' strong performance over the past three months reflects a positive shift in investor sentiment against a backdrop of light positioning and highly attractive valuations. Some of the headwinds of 2022, such as the Fed's aggressive policy tightening, are receding, China re-opening its economy will stimulate activity more broadly, and a number of emerging countries are starting to see deflation as a consequence of effective monetary policy action over the past two years.
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