There were net inflows into the emerging markets specialist's liquidity/overlay, local currency, external and corporate debt strategies. The first of these segments enjoyed the largest increase in assets under management, up a third on the previous quarter to $4.8bn. Overall assets under management grew to $55.9bn by the end of March.
At 348p, the shares trade at 15 times forward earnings. Analysts at Shore Capital expect Ashmore to gain a further $1.1bn in assets during the three months to June, via a combination of investment gains and new business. However, with US interest rates on the up - albeit slowly - any positive sentiment is shaky. Hold.
Last IC view: Hold, 353p, 13 Feb 2017
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