Ashmore assets drop $8bn as EMs take hit

Negative investment performance wiped out $4bn

Ashmore saw assets under management drop by nearly $8bn during the third quarter as volatility in emerging markets intensified and investors fled the asset class.

The emerging markets specialist said AUM dropped 13% to $51.1bn for the three months to the 30 September, down from $58.9bn the previous quarter. This was driven by net outflows of $4bn and negative investment performance of $3.8bn. The company said the results reflect the "typically quieter quarter" combined with a small number of large institutional redemptions in blended debt, external debt and local currency that occurred towards the end of the period. Is now the time to increase exposure to emerging markets? It said most investment strategies experienced negative absolute i...