LONDON (Reuters) - Emerging markets-focused fund manager Ashmore (L:ASHM) posted a $1.3 billion (980.39 million pounds) rise in fourth-quarter assets under management due to improved investment performance, the firm said on Thursday.
Assets under management rose to $52.6 billion in the quarter ended June 30, compared with $51.3 billion in the previous quarter, Ashmore said in a statement.
This was due to positive investment performance of $2 billion, while the firm saw net outflows of $700 million.
Emerging market stocks (MSCIEF) have recovered from a slide earlier this year, and are trading at the year's highs.
"Near-term investor sentiment may be affected by uncertainty in the developed world," Ashmore chief executive Mark Coombs said in a statement, adding that "the arguments for investing in emerging markets are powerful and can be expected to drive allocations higher over time".