Interim Management Statement

Released : 14/04/2011

RNS Number : 8811E
Ashmore Group PLC
14 April 2011
 



 

 

Ashmore Group plc 

 

14 April, 2011

 

INTERIM MANAGEMENT STATEMENT

 

Ashmore Group plc ("Ashmore", the "Group"), the specialist emerging markets asset manager, announces today the following interim management statement in respect of the period ended 31 March 2011.

 

Assets under Management

                                   


Actual

Estimated


Theme

31 December

2010

(US$billion)

31 March

2011

(US$billion)

Movement

Q2vsQ3

(%)

External debt

20.7

21.5

4

Local currency

7.9

9.2

16

Special situations

3.3

3.2

-3

Equity

0.2

0.2

0

Corporate debt

1.0

1.1

10

Multi-strategy

8.0

8.1

1

Other

5.6

7.0

25

Total

46.7

50.3

8

 

The quarter saw assets under management increase 8% to US$50.3 billion.  The drivers of this were net inflows of US$2.3 billion and positive investment performance of US$1.3 billion. There were good inflows across a range of local currency Ashmore accounts and segregated mandates as well as further net subscriptions in the currency hedging/overlay strategy included within the "Other" theme.

 

The acquisition of a majority stake in EMM LLC announced on 24 February 2011 is on schedule to complete on 31 May 2011 and will be included in the Group's fourth quarter AuM figures.

 

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

 

 

 

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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