July 1, 2019 / 2:22 PM / 3 months ago

BUZZ-Ashmore: Canaccord sees more new client money to boost Q4

** Shares of emerging market-focused money manager Ashmore rise 2% to 519.5 pence

** “Flows have been stronger at ASHM than we had anticipated at the start of the calendar year,” analysts at Canaccord Genuity said in a note

** “We expect another quarter of net inflows in the 3 months to June, although not as strong as the Q3 result (+6.5%),” the brokerage says, adding that it raised its FY19 EPS forecast by 2%

** Canaccord Genuity: “The full year impact of materially better flows and investment performance than we originally anticipated through H2’19, drives average AUM upgrades of 19% in FY20 and 22% in FY21”

** Ashmore, in April, said total assets jumped 11.2% in Q3, boosted by new client money and market gains (Reporting by Justin George Varghese in Bengaluru)

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