StockMarketWire.com - Emerging markets specialist Ashmore Group said Friday assets under management fell 3% in the quarter ended June 30, as increased net inflows were offset by negative investment performance.

For the year ended June 30, assets under management fell 3% to $73.9bn.

The poor performance was blamed on negative investment performance, reducing assets under management by $5.2bn, offsetting net inflows of $2.6bn. This came as returns in local currency markets were weighed down by a stronger US dollar, and increased geopolitical political uncertainty.

Corporate debt assets grew 4% over the quarter to $9.8bn, while equities strategies fell 2% to $4.2bn.

Blended debt assets fell 5% to $19.7bn, and alternatives assets was flat at $1.5bn. External debt fell 5% to $14.5bn, and local currency assets fell 4% to $17.0bn. Multiasset and overlay/liquidity strategies were lower over the quarter at $1.0bn and $6.2bn, respectively. 'Asset prices weakened over the period, particularly in local currency markets, as returns were impacted by the combination of a stronger US dollar and weaker euro, risk aversion to developed world political uncertainty, and concerns about trade protectionism,' Mark Coombs, Chief Executive Officer, Ashmore Group.

At 8:18am: [LON:ASHM] Ashmore Group PLC share price was +4.4p at 355p



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