- Emerging markets asset manager Ashmore reported a jump in profit as net asset increased on inflows and positive investment performance.

For the six months ending 31 December 2019, pre-tax profit rose 42% to £132.4m and adjusted net revenue grew 20% driven by an 18% increase in net management fees.

Assets under management (AuM) increased 28% on-year and 7% in the first half of the year to US$98.4bn, supported by net inflows of US$5.7bn and positive investment performance of US$0.9bn.

The interim dividend per share was up 5% to 4.80p.

'There continue to be compelling incentives for investors to increase their allocations to emerging markets in pursuit of higher risk-adjusted returns compared with those that are available in the developed world,' said Mark Coombs, chief executive officer.

'The main risk to continued capital flows to emerging markets remains a shock to global investor sentiment, most likely originating in the developed world, rather than any specific local event in an emerging nation or small group of emerging nations.'

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