Ashmore results 'reflect negative sentiment towards emerging markets'

Outflows in H2

Emerging market specialist Ashmore Group’s financial performance in the second half of last year was impacted by the market environment as the firm suffered heavy outflows.

Net outflows in the six months to 31 December reached $3.2bn while Ashmore also saw negative investment performance of $3.9bn. Assets under management now stand at $87.3bn. Seed capital investments generated gains of £25.2mn, down from £49.3m the previous year, while profit before tax also dropped by nearly a quarter to £116m. Despite poor performance in 2021, going forward market conditions are expected to take a turn for the better, with the macro environment likely to provide more support. IIF survey: Emerging market investors get 'jitters' in January CEO Mark Coombs said:"Th...