September 6, 2019 / 6:20 AM / 13 days ago

Emerging market fund manager Ashmore full-year core profit rises 10%

LONDON, Sept 6 (Reuters) - Emerging market fund manager Ashmore posted a 10% rise in core profit for its financial year ending June 2019 on Friday, helped by both inflows and positive market performance.

The company, which invests across a range of equity, debt, multi-asset and alternative funds for institutional and retail clients, recorded adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) of 201.8 million pounds ($248.92 million).

The results were slightly below a company-supplied consensus forecast of 205.5 million pounds.

Assets under management were a previously reported $91.8 billion at the end of June, up 24% from a year earlier. ($1 = 0.8107 pounds) (Reporting by Carolyn Cohn, Editing by Abhinav Ramnarayan)

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