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Ashmore Group reports strong rise in assets under management

Emerging markets asset manager Ashmore Group PLC (LON:ASHM) said the final quarter of the financial year ended 30 June 2010 saw assets under management increase by US$2.3 billion to US$35.3 billion.

The drivers of this were net inflows of US$2.9 billion into the external debt, local currency and special situations themes, and adverse investment performance of US$0.6 billion primarily in May, the group said in a trading statement.

Performance fees for the year overall are estimated to be £82.9 million , up from £52.5 million a year earlier, arising principally from strong investment performance for funds with December and April year-ends.