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Asset manager Ashmore says EM turmoil yet to hit client sentiment

Published 07/09/2018, 08:25
Updated 07/09/2018, 08:30
© Reuters. Asset manager Ashmore says EM turmoil yet to hit client sentiment
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LONDON (Reuters) - Emerging markets-focused asset manager Ashmore (L:ASHM) said clients are still looking to allocate money to its emerging market funds despite a sharp sell-off in many markets over recent weeks.

Fears a trade spat between the United States and China could escalate plus economic ructions in Turkey and Argentina have battered the latter's currencies and debt and pushed a broad gauge of emerging market stocks (MSCIEF) to a 14-month low.

Weakening market sentiment has yet to translate to outflows, however, and Ashmore said the trend established in its fourth quarter has since continued. End-June assets were a previously reported $73.9 billion, up 26 percent on the year.

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