Ashmore AUM drops 11% in Q4 after EM sell-off

Assets under management at emerging market specialist Ashmore fell nearly 11% during the last quarter of 2014 as a fresh market sell-off weighed on its funds.

With a stronger dollar and other factors prompting another difficult quarter for emerging markets at the end of 2014, the group saw its total AUM drop from $71.3bn (£47.2bn) at the end of September to $63.7bn (£42.1bn) at the end of December, a 10.7% drop. Alternative funds particularly struggled over the quarter, with AUM dropping 41% from $2.2bn to $1.3bn, due to the disposal of the group's $600m interest in a Chinese real estate joint venture. Equities were also hit, with AUM down 17.3% to $4.3bn, while blended debt saw a 13% drop in AUM to $18bn, and other asset classes also suffe...