Source - SMW
Ashmore Group's assets under management rose to an estimated $69.5bn in the three months to the end of December - up 7% from an actual £65.0bn at the end of September.

The group had net inflows of $3.6bn and a positive investment performance of $0.9bn.

Ashmore said the continued strong net inflows in the quarter were consistent with this stage in the cycle as investors appreciate the high returns available and look to address underweight positions. 

It said gross subscriptions increased from a broad range of clients, including both additional allocations from existing investors and new mandates. 

It said net inflows were particularly strong in the local currency theme as investors were now recognising the significant value available. 

Ashmore said it delivered positive absolute performance in the quarter across both fixed income and equities product ranges while performance was flat in alternatives and overlay/liquidity. 

It said relative performance against both benchmarks and the peer group continued to be very strong.

Chief executive Mark Coombs said: 'Emerging Markets assets have delivered strong absolute and relative performance over the past two years leading to higher client flows into the Group's funds. 

'Additionally, competitive currencies have been driving exports thus accelerating economic growth across Emerging Markets. 

'The next phase of the cycle should see institutional flows stimulating domestic demand and so provide for continued attractive returns, particularly from local currency-denominated assets including equities. 

'Our 2018 outlook is for another year of outperformance across the range of Emerging Markets asset classes.'