February 8, 2018 / 7:14 AM / 5 months ago

Ashmore says H1 assets up 18 pct on inflows, market gains

LONDON, Feb 8 (Reuters) - Emerging markets-focused fund manager Ashmore on Thursday posted an 18 percent rise in ‍assets under management to $69.5 billion, buoyed by net inflows of new client money and market gains.

Net inflows during the six months to the end of December were $7.9 billion while positive market performance added a further $3.2 billion, it said in a statement.

However, pretax profit over the period fell to 99 million pounds from 121.5 million pounds, due to adverse currency moves, a dip in performance fee revenue and the cost of seeding new investments. ​ (Reporting by Simon Jessop, editing by Maiya Keidan)

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