Interim Management Statement

Released : 14/10/2010

RNS Number : 3623U
Ashmore Group PLC
14 October 2010
 

Ashmore Group plc

 

14 October 2010

 

First QUARTER INTERIM management statement

 

Ashmore Group plc ("Ashmore", the "Group"), a leading specialist emerging markets asset manager, announces today the following interim management statement in respect of the period ended 30 September 2010.

 

Assets under Management

                                   


Actual

Estimated


Theme

30 June

2010

(US$billion)

30 September

2010

(US$billion)

Movement

Q1vsQ4

(%)

External debt

19.4

20.5

+6

Local currency

7.0

7.6

+9

Special situations

3.4

3.4

-

Equity

0.2

0.2

-

Corporate debt

0.9

0.9

-

Multi-strategy

2.0

4.9

+145

Other

2.4

4.1

+71

Total

35.3

41.6

+18

 

The quarter saw assets under management increase 18% to US$41.6 billion.  The drivers of this were net inflows of US$3.4 billion, and positive performance of US$2.9 billion.

 

The inflows were within the multi-strategy theme, principally from Asian retail investor focused products, and in the "Other" theme in the currency hedging/overlay strategy.

 

Trading conditions are in line with management expectations and the Group remains confident of its prospects for the current year.

 

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.

 

For further information, please contact:

 

Ashmore Group plc     

MHP Communications

ashmore@mhpc.com

 

Graeme Dell

Gay Collins

Jennifer Spivey

Group Finance Director

+44 20 3077 6000

+44 20 3128 8582

+44 7798 626 282

+44 20 3128 8534

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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