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Ashmore flows turn positive

Sentiment towards emerging markets could be improving
April 20, 2017

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.