LONDON (Reuters) - Emerging markets-focused asset manager Ashmore (L:ASHM) said on Tuesday that assets under management had risen by $1.9 billion in the three months to end-March as market gains more than offset further client outflows.
Positive investment performance across its funds added $3 billion (2 billion pounds) to its total assets, although this was partially offset by net outflows of $1.1 billion, it said in a statement.
Ashmore said it saw net outflows from its blended debt, external debt, corporate debt, multi-asset and local currency funds, although rising emerging market asset values had more than compensated for the losses.
"There continues to be substantial absolute and relative value available in emerging markets, supporting our view that investors should be looking to increase their allocations," Chief Executive Mark Coombs said.