StockMarketWire.com - Emerging market asset manager Ashmore said annual profit increased 15% as assets under management were bolstered by gains in the underlying portfolio and a rise in net fund inflows.

For the year ending 30 June 2019, pre-tax profit rose 15% to £219.9m and adjusted net revenue grew 11%, driven by a 17% increase in net management fees and performance fees of £2.8m.

Assets under management (AuM) increased 24% to US$91.8bn, driven by net inflows of US$10.7bn and market performance of US$6.9bn.

The company recommended a final dividend per share of 12.10p.

Looking ahead, the company said capital was likely to continue to flow to emerging markets as investors addressed their underweight positions in markets that offered substantial yield, growth and return opportunities.

'The main risks relate to the US and the impact that its confrontational trade policy and slowing domestic growth will have on the broader global economy,' it added.

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