Specialist emerging market asset manager Ashmore saw net inflows of $1.2 billion (€1 billion) in the quarter ending June 30.
The company’s equities and bonds strategies saw positive performance, particularly in local currency debt followed by external debt.
Mark Coombs, chief investment officer, said emerging markets continued to deliver good absolute returns during the quarter and outperformed developed world fixed income and equity indices.
Momentum in gross sales continued and gross redemptions reduced once again quarter-on-quarter.
Subscriptions were from a “diverse range of client types” and included new mandates and additional allocations from existing clients.
Net inflows were delivered in blended debt, corporate debt, equities and alternatives, while flows were flat in external debt, multi-asset and overlay/liquidity.
Ashmore’s assets under management increased by $2.8 billion to $58.7 billion.
Coombs said: “Emerging markets asset prices have started to reflect the resilient fundamentals of the underlying economies and investor activity levels are responding.”
He added that investors were still significantly underweight in emerging markets.
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