Ashmore (ASHM) recorded net inflows for the first time in almost three years during the first three months of 2017. A reduction in redemptions and increased new business resulted in net inflows of $1.4bn (£1.1bn) during the period. The asset manager last reported a quarter of net new business inflows in June 2014.
IC TIP:
Hold
at
348p
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.