Ashmore Group shed $2.1bn in assets under management in the first quarter of 2024, due to a combination of negative market performance and weak demand for emerging markets strategies.
According to a trading statement published today (15 April), the firm saw net outflows of $2bn over the period, alongside negative investment performance of $100m. The London-listed asset manager said net outflows were predominantly driven by institutional clients "continuing to reduce risk", against a backdrop of more "subdued" markets following a rally in the final months of 2023. Jefferies upgrades Ashmore Group to 'Buy' on returning EM investor appetite By "investment theme", outflows concentrated on local currency, blended debt and corporate debt strategies, with equities be...
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