Given past experience, many market watchers could be forgiven for expecting a sharp downturn in emerging market sentiment following developments in the US last year. Yet despite the election of protectionism-espousing Donald Trump and a steady increase in interest rates, the popularity of emerging markets has not waned. In fact, the MSCI emerging market index is trading at its highest point since 2011.
With that in mind, Ashmore’s (ASHM) uplift in new business should not come as too much of a surprise. During the three months to the end of September, the emerging-markets-focused asset manager gained $4.3bn (£3.3bn) in net inflows. It also generated $2.3bn in investment returns. This builds on the strong momentum from the 2017 financial year, which ended in June. Prior to that, the asset manager last reported a quarter of net new business inflows in June 2014.
