Ashmore assets decline again on weak emerging markets
LONDON (Reuters) – Investment group Ashmore said on Monday that weakness in emerging markets over the last three months of 2021 led to a further decline in assets.
Ashmore said assets under management fell $4 billion over the quarter, with $2.2 billion of net outflows and a $1.8 billion fall due to poor investment performance.
The group’s assets also fell $3.1 billion in the previous quarter.
“Persistent global inflation expectations, new COVID-19 variants and weaker growth in China meant challenging market conditions for emerging markets continued through the final months of 2021,” said Mark Coombs, chief executive of Ashmore.
“However, the global macro economic environment is expected to be more supportive for emerging markets in 2022.”
(Reporting by Iain Withers; Editing by Rachel Armstrong)