Business
ASSETS UNDER MANAGEMENT STATE
ASSETS UNDER MANAGEMENT STATE.
About this update from Ashmore Group Plc
[{"type":"text","content":"\n RNS Number : 3824Z Ashmore Group PLC 13 January 2011 \n\n \n \nAshmore Group plc \n \n+0700 13 January, 2011 \nSECOND QUARTER ASSETS UNDER management statement \n \nAshmore Group plc (\"Ashmore\", the \"Group\"), a leading specialist emerging markets asset manager, announces today the following interim management statement in respect of the period ended 31 December 2010.\n \nAssets under Management \n \n\n\n\n\n\n\n\nActual \n\n\nEstimated\n\n\n\n\n\n\n\nTheme\n\n\n30 September\n2010\n(US$billion)\n\n\n31 December\n2010\n(US$billion)\n\n\nMovement\nQ1vsQ2\n(%)\n\n\n\n\nExternal debt \n\n\n20.5\n\n\n20.7\n\n\n1\n\n\n\n\nLocal currency\n\n\n7.6\n\n\n7.9\n\n\n4\n\n\n\n\nSpecial situations\n\n\n3.4\n\n\n3.3\n\n\n-3\n\n\n\n\nEquity\n\n\n0.2\n\n\n0.2\n\n\n0\n\n\n\n\nCorporate debt\n\n\n0.9\n\n\n1.0\n\n\n10\n\n\n\n\nMulti-strategy\n\n\n4.9\n\n\n8.0\n\n\n63\n\n\n\n\nOther\n\n\n4.1\n\n\n5.6\n\n\n37\n\n\n\n\nTotal\n\n\n41.6\n\n\n46.7\n\n\n12\n\n\n\n\n \nThe quarter saw assets under management increase 12% to US$46.7 billion. The drivers of this were net inflows of US$5.2 billion and adverse investment performance of US$0.1 billion. Inflows were highest in the multi-strategy theme, with a final quarter of inflows for the Asia retail focused product, and also in the \"Other\" theme in the currency hedging/overlay strategy.\n \nFor funds having a performance year ending December 2010 performance fees are estimated to be £10 million which together with the fees previously announced for the August 2010 year end funds and other performance fees recognised in the period give overall H1 performance fees of approximately £60 million.\n \nTrading conditions are in line with management expectations and the Group remains confident of its prospects for the current year.\n \nAshmore will announce its interim results in respect of the six months ended 31 December 2010 at 0700 hours on 24 February 2011.\n \nFor further information, please contact:\n \n\n\n\n\nAshmore Group plc \n\n\nMHP Communications \[email protected] \n\n\n\n\n\n\n\n\n\...