Ashmore Group profits climb 15% despite falling AUM and higher operating costs

Outflows of $8.5bn

Ashmore Group’s pre-tax profits have jumped by 15%, as higher interest income and seed capital returns offset falling average assets under management and higher operating costs.

In the company's latest annual results released today (5 September), the specialist emerging markets asset manager reported pre-tax profits of £128.1m in the year to 30 June. This included a £21.7m return from seed capital investments and £1m from FX gains. Excluding this, adjusted profits before tax stood at £105.4m, down 11.7% from £119.4m in the same period a year prior. Net revenue dropped 4% year-on-year, declining from £195.4m to £187.8m, while operating costs surged by 22.3%, rising from £92.4m to £113m. Ashmore Group suffers $2bn outflows as institutions slash EM exposure ...