London, January 3, 2024 — Ashmore Group, an emerging markets assets manager, announced that its assets under management (AUM) have grown during the second quarter of fiscal year 2024. The positive investment performance has offset the outflows experienced by the company.
As of December 31, the AUM of Ashmore Group stood at $54.0 billion, showing a 4% increase from the previous quarter’s $51.7 billion. In terms of performance, the company registered $3.9 billion in positive investment returns and $1.6 billion in net outflows—an outcome partly attributed to its fixed income themes.
The reduction in outflows during this period can be attributed to clients responding to improving macroeconomic conditions globally. Chief Executive Mark Coombs explained that Emerging Markets outperformed most developed world indices in 2023 due to factors such as superior economic growth, effective monetary policies, and the benefits derived from a weaker US dollar as the Federal Reserve concludes its tightening cycle. He further expressed confidence that these factors will continue to support asset prices in the market throughout 2024.
