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Ashmore reports rise in Dec quarter assets under management

(Reuters) - Ashmore said on Monday its assets under management rose 2% in the December quarter, as net outflows halved from the previous three months buoyed by improving investor sentiment.

The emerging markets-focused asset manager recorded $57.2 billion of assets under management for the quarter ended Dec. 31 and said it expects investor risk appetite to increase over the course of the next 12 months.

Emerging market assets have been at the sharp end of recent market turmoil, suffering from the prospect of slowing growth, higher developed-market interest rates and general jitters over financial stability prompting flights to safety.

"Some of the headwinds of 2022, such as the Fed's aggressive policy tightening, are receding, (and) China re-opening its economy will stimulate activity more broadly," Chief Executive Officer Mark Coombs said.

The asset manager reported net outflows of $2.6 billion for the quarter, compared with $5 billion in the September quarter.

(Reporting by Muhammed Husain in Bengaluru; Editing by Dhanya Ann Thoppil and Nivedita Bhattacharjee)