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Ashmore Q4 assets hit as weak returns offset net inflows

Reuters - UK Focus

LONDON, July 13 (Reuters) - Emerging markets-focused asset manager Ashmore Group (Frankfurt: A1B.F - news) said assets under management fell 3 percent in its fourth quarter as weak investment performance offset net inflows of fresh client cash.

Total (LSE: 524773.L - news) assets at the end of June were $73.9 billion, it said in a statement on Friday, down from $76.5 billion at the end of the prior quarter.

Investment losses of $5.2 billion more than offset net inflows of $2.6 billion, it said, with performance negative across all of its investment themes except alternatives. (Reporting by Simon Jessop, editing by Huw Jones)