LONDON (dpa-AFX) - British investment manager Ashmore Group plc (ASHM.L) Monday said its Assets Under Management for the third quarter declined 4 percent to $51.9 million from $54 billion in the second quarter. This was mainly due to negative investment performance of $0.1 billion and net outflows of $2 billion.
'Against a backdrop of more subdued markets following the strong end to 2023, net outflows were predominantly driven by institutional clients continuing to reduce risk. By investment theme, the net outflows were primarily in local currency, blended debt and corporate debt, and there was a small net inflow in the equities theme,' the company said in a statement.
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