Edition:
United Kingdom

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


Thursday, 14 Feb 2019 

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. 

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