- Asset manager Ashmore reported a rise in assets under management on higher fund inflow amid improving emerging market conditions thanks partly to a weaker US dollar amid expectations for a Federal Reserve interest rate cut later this year

For the quarter ended 30 June, assets under management increased by 7.6% to $91.8m, through net inflows of US$3.3bn and positive investment performance of US$3.2bn.

The net inflows were highest in external debt, local currency and corporate debt, with positive flows also seen in the blended debt, overlay and alternatives themes,' the company said. 'There was a small net outflow in the equities theme.'

'Client activity levels remain healthy and the period saw a consistent pattern of existing institutional clients increasing allocations across a broad range of strategies, coupled with continuing demand from retail clients particularly for corporate debt and local currency products,' the company said.

Looking ahead, the company said the outlook for Emerging Markets remained positive, with supportive economic fundamentals, attractive valuations in fixed income and equities, limited opportunities in Developed Markets and a 'clear opportunity' to continue raising investor allocations to higher, more representative levels.

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