Ashmore says H1 assets up 18 pct on inflows, market gains
LONDON, Feb 8 (Reuters) - Emerging markets-focused fund manager Ashmore on Thursday posted an 18 percent rise in assets under management to $69.5 billion, buoyed by net inflows of new client money and market gains.
Net (LSE: 0LN0.L - news) inflows during the six months to the end of December were $7.9 billion while positive market performance added a further $3.2 billion, it said in a statement.
However, pretax profit over the period fell to 99 million pounds from 121.5 million pounds, due to adverse currency moves, a dip in performance fee revenue and the cost of seeding new investments.
(Reporting by Simon Jessop, editing by Maiya Keidan)