Ashmore sees further $2bn outflow as investors shun EMs

Ashmore has seen further outflows during the first quarter of the year, as investors continued to take money out of emerging market products.

Investors pulled another $2bn (£1.4bn) from the emerging market specialist's funds in the first three months of this year, as concerns over the impact of a stronger US dollar weighed on sentiment. However, those outflows represent just half of those seen in the fourth quarter of last year, which amounted to a total of $4.2bn. The group said it has seen a "modest improvement in new subscriptions", as some clients started to take advantage of the low valuations in some emerging regions. Overall, Ashmore's blended, corporate and external debt, multi-strategy and local currency product...