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Emerging markets asset manager Ashmore reported a rise in net assets for the June quarter thanks to strong inflows into the overlay, equities and external debt themes.
For the quarter ended 30 June 2021, assets under management increased by US$4.5 billion over the period, comprising net inflows of US$1.1 billion and positive investment performance of US$3.4 billion.
'By investment theme, overlay / liquidity and equities delivered net inflows in the period; the local currency, alternatives and multi-asset themes were flat; and the blended debt, corporate debt and, to a lesser extent, the external debt themes experienced net outflows,' the company said.
'There was a small net outflow from intermediary retail client,' it added.
Looking ahead, extremely attractive valuations in emerging markets should support continued capital flows, the company said.