Business
Half-year Financial Report
Ashmore Group plc reported strong results for the six months ended 31 December 2025, with assets under management increasing by 10% to US$52.5 billion, driven by US$2.3 billion in net inflows and US$2.6 billion from outperformance. Profit before tax surged by 64% year-on-year to £81.9 million, and diluted earnings per share rose by 89% to 10.1 pence, supported by higher returns on seed capital investments. Adjusted net revenue was £67.5 million, down 16% year-on-year due to lower average assets under management and reduced performance fees, while operating costs increased by 1%. The company maintained its interim ordinary dividend at 4.8 pence per share and reported a strong balance sheet with £480 million in excess financial resources. Disclaimer*
About this update from Ashmore Group Plc
Ashmore Group plc 12 February 2026 Results for the six months ended 31 December 2025 Ashmore Group plc (Ashmore, the Group), the specialist Emerging Markets asset manager, today announces its unaudited results for the six months ended 31 December 2025. - Net inflows & outperformance drive higher assets under management - Assets under management (AuM) increased 10% over the period to US$52.5 billion1. - Net inflows of US$2.3 billion with broad-based subscriptions +39% YoY and redemptions reduced by 35% YoY. - Performance added US$2.6 billion reflecting positive market returns and Ashmore's active management delivering outperformance. - Strong growth in profit before tax (+64% YoY) & diluted EPS (+89% YoY) - Adjusted net revenue of £67.5 million, 16% lower YoY reflecting average AuM levels and reduced performance fees. - Continued focus on managing operating costs, which increased 1% YoY with VC accrued at 32.5% of EBVCT. - Adjusted EBITDA of £20.9 million, delivering adjusted EBITDA margin of 31%. - Profit before tax of £81.9 million increased 64% YoY and includes higher returns on seed capital investments. - Diluted EPS of 10.1 pence, 89% higher YoY, and adjusted diluted EPS of 3.1 pence. - Strong, liquid balance sheet with £480 million of excess financial resources including £260 million of cash and deposits. - The Board has declared an unchanged interim ordinary dividend of 4.8 pence per share. - Emerging markets continue to deliver strong returns & outperform developed markets - Emerging markets indices returned between +5% and +21% across fixed income and equities over the period, compared with +1% for global bonds and +10% for world equity markets. - Ashmore's active investment processes delivering strong relative performance with 82% of AuM outperforming over one year, 70% over three years and 58% over five years. - Strategic initiatives delivering diversification & growth - Equities AuM increased 17% over the period to US$8.8 billion (17% of Group AuM), through net inflows and investment outperformance. - Local office AuM increased 8% to US$8.4 billion (16% of Group AuM), with notable growth in Indonesia and Colombia. - AuM sourced from EM-domiciled clients increased 14% over the six months and represents 39% of Group AuM. - Positive emerging markets trends to continue - Supportive environment for EM with higher e...