Ashmore thrives as investors start betting on a rally - Business - Evening Standard
       

Ashmore thrives as investors start betting on a rally

Ashmore Group, the London-based emerging markets fund manager, has seen its assets under management jump by 25% to $31.1 billion (£19.5 billion) as investors began betting on global recovery.

The biggest gains in assets came in currencies and corporate high-yield bonds, with notable strength in currency hedging.

It said performance had been strong across all the areas in which it invests, with the exception of special situations, where it said: "valuation uplifts have lagged listed markets as is usual emerging from stress events."

It suggested that this would change as more activity is taking place across capital markets, which tends to lead to revaluations of such companies.

Ashmore said trading conditions remained in line with management expectations and it is "confident of its prospects for the current year".

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