http://pdf.reuters.com/Regnews/regnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20080717:RnsQ2530Z
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RNS Number : 2530Z
Ashmore Group PLC
17 July 2008
Ashmore Group plc
+0700 17 July 2008
TRADING UPDATE AND ASSETS UNDER MANAGEMENT sTATEMENT
Ashmore Group plc ("Ashmore", the "Group"), a leading specialist emerging
markets asset manager, announces the following trading update and Assets under
Management
("AuM") statement in respect of the period ended 30 June 2008.
Assets under Management
Actual Estimated
Theme AuM AuM Movement
31 March2008 30June 2008
(US$billion) (US$billion) (%)
Dollar Debt 22.4 22.7 +1
Local Currency 7.6 8.5 +12
Special Situations 5.4 5.5 +2
Equity 0.9 0.8 -11
Total 36.3 37.5 +3
The final quarter of the financial year ended 30 June 2008 saw AuM increase by
US$1.2 billion (3%) to US$37.5 billion. This increase comprises net
subscriptions of US$1.2 billion, principally in local currency and dollar debt,
while investment performance across the investment themes was neutral.
During the financial year ended 30 June 2008, AuM increased by US$5.9 billion
(19%) from US$31.6 billion to US$37.5 billion. Net subscriptions in the period
were US$3.0 billion and investment performance contributed US$2.9 billion. The
Group has seen strong growth in the local currency theme during the last year
with AuM up by 70% from US$5.0 billion to US$8.5 billion and management believes
this growth opportunity will continue. In the special situations theme, the
fourth Global Special Situations Fund ("GSSF") is now fully drawn and the launch
of the fifth GSSF fund, GSSF5 has recently been announced.
The results for the full year are in-line with management expectations and
include estimated net performance fees recognised in the six month period to 30
June 2008 of £12.8 million, generated across all of the Group's investment
themes.
The Group's strategy remains consistent; deliver long term investment
outperformance; generate and diversify net management fee income through the
attraction of net subscriptions across investment themes; and develop the
Ashmore brand and business model.
The Group will announce its preliminary results in respect of the financial year
to 30 June 2008 on 16 September 2008. There will be a presentation for analysts
and investors at 0900 on that date at the offices of Goldman Sachs at
Peterborough Court, 133 Fleet Street London EC4A 2BB. A copy of the presentation
will be made available on the Group's website at www.ashmoregroup.com.
For further information, please contact:
Penrose Financial +44(0)20 7786 4888
Gay Collins/ Lauren Stewart +44(0)7921 884 551
[email protected]
This information is provided by RNS
The company news service from the London Stock Exchange
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