Ashmore Group PLC Trading Statement (6559V)
April 16 2021 - 01:00AM
UK Regulatory
TIDMASHM
RNS Number : 6559V
Ashmore Group PLC
16 April 2021
Ashmore Group plc
16 April 2021
THIRD QUARTER ASSETS UNDER MANAGEMENT STATEMENT
Ashmore Group plc ("Ashmore", "the Group"), the specialist
Emerging Markets asset manager, announces the following update to
its assets under management ("AuM") in respect of the quarter ended
31 March 2021.
Assets under management
Actual Estimated
31 December 2020 31 March 2021 Movement
Theme (US$ billion) (US$ billion) (%)
External debt 19.3 17.5 -9%
------------------- ---------------- ---------
Local currency 20.6 18.6 -10%
------------------- ---------------- ---------
Corporate debt 11.6 11.4 -2%
------------------- ---------------- ---------
Blended debt 24.7 23.3 -6%
------------------- ---------------- ---------
Equities 6.5 6.8 +5%
------------------- ---------------- ---------
Alternatives 1.3 1.4 +8%
------------------- ---------------- ---------
Multi-asset 0.3 0.3 -
------------------- ---------------- ---------
Overlay / liquidity 8.7 10.6 +22%
------------------- ---------------- ---------
Total 93.0 89.9 -3%
------------------- ---------------- ---------
Assets under management reduced by US$3.1 billion over the
period, comprising net inflows of US$1.5 billion and negative
investment performance of US$4.6 billion.
This quarter saw a continuation of the improving trend of the
past 12 months as investors recognise the strong recovery in
Emerging Markets. By investment theme, there were net inflows in
overlay / liquidity, corporate debt, equities and alternatives,
while external debt and local currency experienced net outflows and
the other themes were flat over the period. Institutional clients
delivered net inflows, reflecting a broad range of flows into
existing fixed income mandates and new clients in the equities
theme. There was a small net outflow from intermediary retail
clients.
Globally, fixed income markets fell while equity markets rose
over the quarter, reflecting successful vaccination programmes in
many countries and a repricing of inflation expectations.
Consequently, the absolute performance was negative in the fixed
income investment themes and positive in equities. Relative
performance over the quarter continued to be strong in equities and
was in line with or slightly below benchmarks in fixed income
strategies, consistent with Ashmore's usual pattern of performance
in more volatile market conditions. Relative performance over one
and five years is strong and continues to show broad improvement
over three years.
Mark Coombs, Chief Executive Officer, Ashmore Group plc,
commented:
"The past quarter has shown that as economies transition from
the shock of the COVID-19 pandemic back to growth, there will be
periods of market volatility as they adjust towards normality.
While this has had a mark-to-market impact, it provides
opportunities for active management and the positive trend in
Ashmore's net flows continued including the seventh consecutive
quarter of net inflows to equity strategies. There are good reasons
to believe that annual inflation rates will subside after a
short-term spike over the next few months, given the base effects
of the economic shock in 2020 and pressure on supply chains, and
the deflationary influence of higher unemployment. Central bank
policies are expected to remain supportive, which provides a solid
backdrop for continued superior economic growth and strong
performance in Emerging Markets."
Notes
Ashmore's Legal Entity Identifier (LEI) is
549300U3L59WB4YI2X12.
For further information please contact:
Ashmore Group plc
Paul Measday
Investor Relations +44 (0)20 3077 6278
FTI Consulting
Neil Doyle +44 (0)20 3727 1141
Laura Ewart +44 (0)20 3727 1160
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END
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