Ashmore Group PLC

Regulatory Filings • Jul 11, 2013

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RNS Number : 0626J

Ashmore Group PLC

11 July 2013

Ashmore Group plc

+0700 11 July, 2013

FOURTH QUARTER ASSETS UNDER MANAGEMENT STATEMENT

Ashmore Group plc ("Ashmore", "the Group"), the specialist emerging markets asset manager, announces today the following update to its assets under management ("AuM") in respect of the quarter ended 30 June 2013.

Assets under Management

Theme	Actual 31 March 2013 (US$ billion)	Estimated 30 June 2013 (US$ billion)	Movement Q4 vs Q3 (%)
External debt	14.8	14.5	-2.0
Local currency	17.1	17.6	+2.9
Corporate debt	4.7	6.1	+29.8
Blended debt 1	17.3	17.6	+1.7
Equities	5.9	5.5	-6.8
Alternatives 1	2.3	2.7	+17.4
Multi-strategy 1	5.5	3.7	-32.7
Overlay / liquidity	10.1	9.7	-4.0
Total	77.7	77.4	-0.4

Assets under management were substantially unchanged during the quarter at US$77.4 billion. Net inflows of US$4.5 billion were offset by negative investment performance of US$4.8 billion.

The strongest net inflows were achieved in the local currency and corporate debt themes, with net inflows also seen in external debt and blended debt. The equities and overlay/liquidity themes experienced modest net outflows. During the quarter there continued to be demand for local currency mandates from government related clients, in addition to broad based client flows into the group's other investment themes. Investment performance was negative in all themes except alternatives, and particularly in local currency, blended debt and external debt.

Mark Coombs, Chief Executive Officer, Ashmore Group plc, commented:

"Ashmore has delivered strong net inflows of US$4.5 billion during the quarter from a diverse range of institutional clients who recognise the long term attractions of allocating to emerging markets.

"Market conditions were clearly more challenging towards the end of the quarter, but emerging markets fundamentals remain intact and attractive investment opportunities have become apparent across a range of fixed income and equity assets. Ashmore's long standing value based investment approach has historically taken advantage of such market opportunities and consequently is well positioned to deliver for clients."

The Group continues to perform in line with management's expectations and will announce its preliminary results in respect of the financial year to 30 June 2013 on 10 September 2013. There will be a presentation for analysts at 0900 on that date at the offices of Goldman Sachs at Peterborough Court, 133 Fleet Street, London, EC4M 2BB. A copy of the presentation will be made available on the Group's website at www.ashmoregroup.com.

Notes:

1. During the quarter, two funds were reclassified from the Multi-strategy theme following changes in investment guidelines: US$0.4 billion of AuM was reclassified to Alternatives and US$1.0 billion was reclassified to Blended debt. The reclassifications had no other material impact, and have been disregarded for the purposes of the above commentary on flows.

2. The average exchange rate, for the translation of US dollar management fees, achieved for the second half of the year was GBP 1:1.5487 (H1 2012/13: GBP 1:5974).

For further information, please contact:

Ashmore Group plc		MHP Communications
		ashmore@mhpc.com
Paul Measday		Gay Collins	Martin Forrest
Investor Relations		+44 20 3128 8582	+44 20 3128 8590
+44 20 3077 6278		+44 7798 626 282

This information is provided by RNS

The company news service from the London Stock Exchange

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