The emerging markets-focused asset manager said total assets in the three months to the end of March stood at US$76.5bn, compared to US$69.5bn at the end of December.
Net inflows were US$6.4bn, representing the strongest quarter since June 2013, on the back of continued demand for emerging market assets.
The company delivered performance gains of US$600mln despite more volatile market conditions, particularly in February.
Ashmore said growth in local currency and blended debt portfolios offset a decline in US dollar-denominated external debt and corporate debt. The performance of equities was “marginally negative overall” but with “continued outperformance” in specialist products such as frontier markets, the group added.
“Over the medium to longer term, positive investor sentiment towards emerging markets will continue to be supported by attractive valuations, the need for institutional investors to address underweight allocations, better earnings and credit fundamentals, and relative currency strength arising from further US dollar weakness,” said chief executive Mark Coombs.
"Significantly, the increased market volatility experienced over the past three months has had little effect on the fundamental drivers of returns in emerging markets and, as expected, both Emerging Markets fixed income and equity markets have outperformed.”
Shares rose 6% to 420p in morning trading.