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Emerging market asset manager Ashmore said net assets growth was flat during its fiscal first quarter as fund inflows were offset by a fall in the value of its investment portfolio.
For the quarter ended 30 September 2019, assets under management were broadly flat from the previous quarter, reflecting net inflows of US$2.4bn offset by negative investment performance of US$2.3bn.
The net flows were highest in blended debt, external debt, local currency, equities and corporate debt, with a small net inflow in the overlay and liquidity theme, the company said.
Absolute performance was negative in the corporate debt, blended debt, local currency and equities themes and, to a lesser extent, in the external debt theme, the company added.