Ashmore sees $9bn decline in AUM in H2 2015 as negative EM sentiment prevails

Net revenues down 29% over H2 2015

Ashmore Group saw assets under management fall by $9bn in the second half of 2015 as investors continued to pull assets from emerging market products.

Assets under management at the EM specialist fell to $49.4bn in the second half of 2015, down 25% from $58.9bn in H1. Net revenue was £116.4m, a 29% decline on the same period in 2014, while profit before tax was £62.7m, down from £110.7m in H2 2014. The group's operating costs were £46.3m, a 16% drop from £55.1m. Ashmore said emerging markets continued to see volatility over the period as a result of growing concerns over global economic growth and geopolitical risk, although this was partially offset in December as the US Federal Reserve raised rates for the first time in nearly a d...