Ashmore Group Q3 assets hit by outflows, performance

LONDON, April 14 (Reuters) - Emerging markets-focused fund management company Ashmore Group (Other OTC: AJMPF - news) said on Tuesday its third-quarter assets under management fell by 4.1 percent to $61.1 billion, as clients pulled cash and it lost money on its investments.

The group posted net outflows of $2 billion and a negative investment performance of $600 million in the three months to end-March, it said in a statement, as weaker local currency returns were hit by stronger U.S. dollar recovery in fixed income and equity markets.

Ashmore said it had seen a "modest" positive performance in external debt and a negative performance in corporate debt, alternatives and multi-strategy. Blended debt and equities performance was flat over the period.

"Those investors willing to look beyond short-term price volatility and to focus on fundamentals are benefiting from the recent recovery in markets," Chief Executive Mark Coombs said in the statement.

"However, some investors remain cautious given continued uncertainties such as the timing and impact of higher U.S. interest rates." (Reporting by Simon Jessop, editing by Sinead Cruise)