Ashmore sees AUM decline by $11.3bn

Ashmore Group saw assets under management decline by 15% during the last six months of 2014, as negative investment performance and investors' adversity to emerging markets weighed on the company.

AUM dropped $11.3bn (£7.3bn) to $63.7bn, impacted by $4.5bn in outflows and $6.2bn lost due to negative investment performance. Mark Coombs, CEO of Ashmore said: ""Sentiment towards the emerging markets asset class is being dictated by macro factors to the exclusion of country or company-specific fundamentals. "While this has had a short-term impact on asset prices and hence performance, particularly in the last quarter, it provides a favourable backdrop for Ashmore's value-based investment processes to establish positions in order to enhance returns over the longer term." Around $...