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Rebecca Wayman

London investment manager reveals profits surpass £200m mark

Investment manager Ashmore Group plc has revealed its audited results to June 30 2019.

The group’s assets under management (AuM) have increased by 24 per cent to around $91.8m. Meanwhile, according to the group, its business model delivered ‘strong’ operating and financial results.

Ashmore Group’s net revenue growth has gone up 11 per cent, said to be driven in performance fees of £2.8m.

Mark Coombs, chief executive officer of Ashmore Group, said: “Ashmore has delivered strong results for the year on the back of 24 per cent AuM growth and continued investment outperformance.

“The backdrop for emerging markets remains relatively healthy, with economic indicators such as GDP growth and inflation continuing to trend favourably.

“The main risks relate to the US and the impact that its confrontational trade policy and slowing domestic growth will have on the broader global economy.

“In this context, the significant diversity across the emerging markets asset classes is important and after recent market weakness the valuations available are highly attractive.”

He added: “Ashmore will continue to implement its active investment processes to exploit these opportunities for clients, is well-positioned to continue to capture investors’ rising allocations to emerging markets and, through its consistent strategy and proven business model, to create value for shareholders.”

The company’s adjusted EBITDA increased 10 per cent, too, to £201.8m, while seed capital profit rose to £10.7m, and profit before tax now stands at £219.9m.

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