StockMarketWire.com - Emerging markets asset manager Ashmore reported a rise in assets under management in the quarter ended June, as a recovery in markets boosted investment performance.

For the three months through June, assets under management increased by $6.8bn , reflecting positive investment performance of $9bn and net outflows of $2.2bn.

The equities and corporate debt themes had net inflows, mainly driven by new institutional client mandates.

'The global macroeconomic outlook remains uncertain, and the experience of individual countries will vary considerably, but it is increasingly apparent that the emerging markets in aggregate are less likely to suffer a recession as severe as that in the developed world,' the company said.

'Meanwhile, current valuations are discounting a different scenario with emerging markets assets trading at significantly more attractive levels than the equivalent developed world bond and equity markets,' it added.

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