Ashmore Group’s total total net revenue roes 4 per cent in the six months to 31 December 2011 to GBP181.0 million (H1 2010/11: GBP173.7 million), according to the firm’s unaudited results for the period.
Net management fees increased 30% to £151.4 million from £116.1 million, while performance fees decreased to £23.0 million from £60.1 million.
Profit before tax was up 2% to £129.8 million (H1 2010/11: £127.6 million), with an EBITDA margin of 70% (H1 2010/11: 73%). Assets under management meanwhile, totalled US$60.4 billion at 31 December 2011, a decrease of US$5.4 billion (8%) from 30 June 2011 with net inflows maintained across the period.
Ashmore’s basic EPS was 13.83p (H1 2010/11: 14.30p), while an interim dividend of 4.25p per share will be paid on 4 April 2012 (H1 2010/11: 4.16p)
Mark Coombs (pictured), Chief Executive Officer of Ashmore Group plc, says; “Whilst AuM levels increased in our second quarter, they declined overall in the period, in line with significant falls in global indices during our first quarter. We have maintained net inflows throughout and achieved satisfactory financial performance.
“It has been clearer than ever over the last six months that emerging markets are the driver of global GDP growth, and negative developed world events are happily having a profound impact on perceptions of relative risk globally and prejudices about emerging markets. Many of the asset classes in emerging markets can now not only be considered as higher returning than their developed market equivalent, but also as safer.
“There are excellent investment opportunities within many of Ashmore’s investment themes and performance across all of them in 2012 has started well as a result of maintaining and developing our positioning in the final quarter of 2011.
“We continue to innovate, with an ever deepening range of emerging market products. There remains an extremely compelling prospect for substantial long term, profitable growth.”
