Ashmore Group suffers $2.6bn Q4 outflows as AUM dips 3%

Despite outperformance over the period

Ashmore Group saw more than $2.6bn withdrawn from its funds in the three months to the end of June, as macro uncertainty drove investors to reduce risk.

The specialist emerging markets asset manager's assets under management dipped 3% in the fourth quarter to $55.9bn, as net outflows offset positive investment performance of $1.1bn.  In its quarterly update for the three months to the end of June, the firm said net outflows were primarily the result of top-down asset allocation decisions by institutional clients in the external debt theme, which suffered $1.6bn in outflows - a decline of 13% over the period. The blended debt, corporate debt and local currency themes also experienced outflows of $400m, $100m and $100m, respectively.  ...