LONDON (Reuters) - Emerging markets-focused fund manager Ashmore halted outflows and posted a 4 percent rise in assets under management in the September quarter due to investment performance.
Assets under management rose to $54.6 billion from $52.6 billion during the first quarter of the firm’s financial year, Ashmore said in a statement on Friday.
The firm saw positive investment performance in debt, equities and multi-asset classes, with neutral performance in alternatives and overlay strategy.
The flat flows position was an improvement on previous quarters, which have seen outflows.
“The ongoing recovery in emerging markets asset prices through 2016 and the attractive returns on offer across a diverse range of investment themes are causing investors to reconsider their underweight positions,” chief executive Mark Coombs said in the statement.
Emerging market stocks have risen 12 percent this year.
Reporting by Carolyn Cohn, Editing by Sinead Cruise