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US elections to create buying opportunities for emerging markets asset manager Ashmore

Volatility in emerging markets helped Ashmore grow its assets under management last quarter, something it hopes to be able to repeat in the final few months of the year
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Ashmore’s assets under management rose to US$76.4bn last quarter

Investors ploughed into Ashmore group PLC’s (LON:ASHM) funds as price volatility in emerging markets created a number of money-making opportunities.

Assets under management (AuM) rose by US$2.5bn in the third quarter to US$76.4bn (Q3 17: US$73.9bn), comprising net inflows of US$1.9bn and positive investment performance of US$0.3bn.

READ: Ashmore shares gain as it reports 26% rise in 2018 assets under management

A further US$0.3bn of AuM were acquired through the purchase of a 56% stake in Colombian real estate manager Avenida.

Ashmore’s investments in external, corporate and blended debt performed particularly well, but the strength of the US dollar meant the local currency and equities themes experienced negative absolute performance.

“Net inflows continued through the quarter as clients responded positively to the opportunities created by price volatility across a broad range of Emerging Markets asset classes,” said chief executive Mark Coombs.

“Given the likelihood for mispricing around near-term events such as elections in the US and several Emerging Markets countries, we anticipate there will be more opportunities to buy attractively-valued assets and to embed long-term value into portfolios.”

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