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Ashmore Group AUM rises 27 per cent in second half of 2009

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Ashmore Group, an emerging markets investment manager, had assets under management of USD31.6bn at 31 December 2009, an increase of USD6.7bn or 27 per cent from 30 June 2009.

The increase comprised net subscriptions of USD3.9bn and positive investment performance of USD2.8bn. 

The group’s profit before tax rose 40 per cent to GBP112.4m from GBP80.3m in 2008, resulting in basic earnings per share of 12.51p.

Total net revenue increased by 42 per cent to GBP148.8m from GBP104.5m in 2008.

Net management fees fell 13 per cent from GBP101.9m in 2008 to GBP88.4m at 31 December 2009.
An interim dividend of 3.66p per share will be paid on 1 April 2010.

Mark Coombs, chief executive officer of Ashmore Group, says: "The six months ended 31 December 2009 have seen Ashmore achieving a satisfactory financial performance with assets under management increasing by 27 per cent to USD31.6bn as a result of good net inflows and positive investment performance underpinned by the strategies employed at the bottom of the cycle. 

“Ashmore remains well positioned to benefit from the opportunity presented by the increased importance of the emerging markets’ role within the global order, and increased investor allocations into, and between, emerging markets."

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