Shares in specialist asset manager Ashmore (ASHM) fell 1.8% to 284.2p after the group reported a decline in assets under management reflecting the ongoing macroeconomic uncertainties in emerging markets.

Assets under management of $87.3 billion were marginally below consensus expectations of $88.7 billion. This was due to higher net outflows of $2.2 billion that were significantly ahead of a consensus forecast of $1 billion. Assets under management have fallen by 8% since the start of the year.


Fund performance across external debt, corporate debt and blended debt has been disappointing. Versus benchmarks, external debt and blended debt themes are now underperforming over one, three and five year periods

Numis analyst David McCann said: ‘We believe emerging markets assets will see structural long term growth. As a specialist, we think Ashmore is relatively well-placed to benefit from this opportunity.

'Shorter term however, we fear there is another downgrade/disappointment cycle to come, given continuing weak investment performance, which we think will hinder short to medium term net flows.'

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Issue Date: 17 Jan 2022