London’s emerging market specialist, Ashmore Group, gained net inflows of $1.6 billion (€1.2 billion) across its fund range in the second quarter of the year, highlighting a return of demand for emerging market assets.
Combined with investment growth of $3.3 billion, the inflows drove assets under management to $75 billion as of June 30. This assets under management figure is $2.4 billion less than at the same time last year.
“Improving sentiment and the consequent market recovery have benefited those investors who remained focused on the economic and political fundamentals in emerging markets and who took the opportunity to invest in mis-priced assets earlier in the year,” says Mark Coombs, chief executive.
Coombs says the addition of new countries to emerging market indices will support increased allocations to the equity and bond markets in future.
The firm says investment returns were particularly strong in its blended debt, local currency, external debt and equities themes. In contrast, returns in its alternatives and overlay/liquidity strategies were flat during the quarter.
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