February 14, 2019 / 7:15 AM / 5 months ago

BRIEF-Ashmore Group H1 assets buoyed by $2.4 bln in net inflows

Feb 14 (Reuters) - Ashmore Group PLC:

* SAYS ASSETS UNDER MANAGEMENT (AUM) OF US$76.7 BILLION, 10% HIGHER THAN A YEAR AGO

* SAYS RESILIENT NET INFLOWS OF US$2.4 BILLION IN SIX MONTHS REFLECTING BROAD-BASED INSTITUTIONAL CLIENT DEMAND AND CONTINUED GROWTH IN RETAIL AUM

* SAYS PROFIT BEFORE TAX OF £93.0 MILLION, 6% LOWER YOY

* SAYS SEED CAPITAL MARK-TO-MARKET RESULTED IN A LOSS BEFORE TAX OF £9.7 MILLION (H1 2017/18: £10.5 MILLION GAIN)

* SAYS DILUTED EPS OF 10.1P AND INTERIM DIVIDEND PER SHARE OF 4.55P

* SAYS HAS SEEN A POSITIVE START TO 2019

* SAYS MARK COOMBS HAS AGREED WITH BOARD TO MANAGE HIS SHAREHOLDING DOWN TO A MORE APPROPRIATE LEVEL OVER MEDIUM TERM BY SELLING UP TO 4 PERCENT OF ASHMORE STOCK EACH YEAR INTO MARKET

* SAYS COOMBS CONTINUES TO BE FULLY COMMITTED TO ASHMORE IN HIS CURRENT ROLE

* CEO SAYS EMERGING MARKETS IN GOOD HEALTH WITH HIGH GDP GROWTH, LOW INFLATION, ATTRACTIVE VALUATIONS AND, AFTER A SLIGHT PAUSE IN ALLOCATIONS AT END OF 2018, THERE IS RENEWED MOMENTUM IN CAPITAL FLOWS

* CEO SAYS TEMPORARY FACTORS THAT SUPPORTED US DOLLAR IN 2018 ARE FADING, AND CONSEQUENTLY EMERGING MARKETS ASSETS ARE PERFORMING STRONGLY

* SAYS OUTLOOK FOR EMERGING MARKETS IN 2019 IS POSITIVE, WITH HEALTHY SPREADS AVAILABLE IN EXTERNAL AND CORPORATE DEBT

* SAYS ASSETS UNDER MANAGEMENT WERE $76.7 BILLION AT END-DEC, UP $2.8 BILLION DURING SIX MONTHS

* SAYS GROWTH WAS PRIMARILY DELIVERED THROUGH NET INFLOWS OF $2.4 BILLION AND $0.3 BILLION OF ASSETS ACQUIRED IN ASHMORE AVENIDA TRANSACTION

* SAYS NET REVENUE INCREASED 13% TO £152.1 MILLION ON HIGHER NET MANAGEMENT FEE INCOME

* SAYS BOARD HAS DETERMINED THAT AN INTERIM DIVIDEND OF 4.55 PENCE PER SHARE (H1 2017/18: 4.55 PENCE PER SHARE) WILL BE PAID Source text for Eikon: Further company coverage: (Reporting By Simon Jessop)

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