British fund manager Ashmore Group has said that its assets under management (AuM) increased 4% to $54.6bn during the first quarter ended 30 september 2016 from $52.6bn in the previous quarter.
The company attributed rise in assets to positive investment performance.
The emerging market specialist said that net flows had been flat over the three-month period.
“The neutral net flow for the quarter results from small net inflows in to the blended debt, local currency, corporate debt and overlay/liquidity themes, offset by equally small net o utflows from equities, external debt, and multi – asset. Flows were flat in t he alternatives theme during the period,” the company in its trading update said.
Ashmore Group CEO Mark Coombs said: “The continued improvement in net flows is encouraging in what is typically a quiet quarter. The stability of Emerging Markets over recent months contrasts with the volatility experienced during the same period in 2015 and 2014.
“The ongoing recovery in Emerging Markets asset prices through 2016 and the attractive returns on offer across a diverse range of investment themes are causing investors to reconsider their underweight positions. This inevitably takes time, but Ashmore ’s consis tent investment processes are delivering strong outperformance across fixed income and equities, putting Ashmore in a good position to capture allocations.”