(RTTNews) - Ashmore Group plc (ASHM.L), a British investment manager, Tuesday reported an update to its assets under management or AuM for the first quarter.
In the first quarter, the company's AuM grew 2 percent or $1.1 billion from the preceding fourth quarter to $48.7 billion. The AuM growth comprised positive investment performance of $1.4 billion and net outflows of $0.3 billion.
The company noted that net flows continued to improve through both higher subscriptions and a further reduction in redemptions, and that emerging markets continue to perform strongly.
Mark Coombs, CEO, said, "Given the positive emerging markets backdrop, evident risks to investors' overweight positions in the US, and Ashmore's continued investment outperformance, the Group is well-positioned to capture additional flows as investors increasingly look to shift allocations away from the US including into emerging markets.
On the London Stock Exchange, Ashmore currently trades 0.39 percent lower at 179.40 pence.
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