Source - SMW
Ashmore Group reported assets under management grew 18% to $69.5bn in the second half of 2017 underpinned by strong performance across emerging markets. 

For the six months through December 2017 period, the group reported net inflows of $7.9bn and positive market performance of $3.2bn. 

The group said its net inflows investment processes continued to deliver strong investment performance with 82% of AuM outperforming benchmarks over one year, 93% over three years and 87% over five years. 

On a statutory basis, including foreign exchange translation, net revenues were £134.4m (H1 2016/17: £144.1m).

Profit before tax fell 18.5% to £99.0m, diluted EPS fell 19% to 11.3p (H1 2016/17: £121.5m, 13.9p, respectively)

Chief executive Mark Coombs said: 'The favourable environment for Emerging Markets is reflected in Ashmore's solid operating performance during the period, with 18% growth in assets under management, strong investment performance for clients, and increased profitability.'

'We expect another good year of performance across the range of Emerging Markets asset classes in 2018, as economic conditions continue to be supportive, valuations remain attractive, and therefore investors continue to increase allocations.'