Business
Quarterly AuM Statement
Quarterly AuM Statement.
About this update from Ashmore Group Plc
[{"type":"text","content":"\n Ashmore Group PLC\n16 October 2007\n\n\nAshmore Group plc\n\n0700 16 October 2007\n\n\nFIRST QUARTER INTERIM MANAGEMENT STATEMENT\n\nAshmore Group plc (the 'Group', the 'Company') today issues the following\ninterim management statement in respect of the three month period to 30\nSeptember 2007.\n\nAssets under Management ('AuM')\n AuM AuM Movement\n 30 June 2007 30 Sept 2007\n (US$bn) (US$bn) (%)\nGlobal US$ 21.2 21.9 4\nLocal Currency 5.0 5.7 14\nSpecial Situations 3.4 3.6 7\nEquity 2.0 1.9 (8)\nTotal 31.6 33.1 5\n\n\nOver a period in which global financial markets experienced a high level of\nvolatility and conditions in global credit markets in particular were\nchallenging, the Group delivered net subscriptions of US$0.1bn and satisfactory\nlevels of investment performance. Despite recent market conditions, investor\nappetite for emerging markets investments remains positive and the Group\ncontinues to benefit from a shift in investor preference towards specialist\nmanagers with track records of delivering sustained investment out-performance.\n\nThe Group's strategy remains consistent; deliver long term investment\nout-performance; generate and diversify net management fee income through the\nattraction of net subscriptions across investment themes; and develop the\nAshmore brand and business model. Trading conditions into the second quarter of\nthe 2008 financial year are in line with management expectations and the Group\nremains confident that its prospects for the current financial year are\nsupported by the long-term growth trends demonstrated by emerging market asset\nclasses.\n\nThe Group will announce a trading update and AuM statement for the six month\nperiod to 31 December 2007 at 0700 on 15 January 2008 and its results in respect\nof this period at 0700 on 26 February 2008.\n\nFor further information, please contact:\n\nAshmore Group plc +44 20 7557 4100\nJim Pettigrew +44 20 7557 4157\nTom Shippey +44 20 7557 4191\n\nPenrose Financial +44 20 7786 4888\nGay Collins +44 7798 626 282\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange \n ","length":3078,"tagName":"div"}]