UK's Ashmore first-quarter inflows beat expectations on emerging market resilience

By Reuters News

Oct 14 (Reuters) - Asset manager Ashmore ASHM.L reported first-quarter net inflows ahead of expectations on Wednesday, as investors kept piling money into emerging market assets despite a selloff in global bond markets.

Here are some details from the company:

  • Ashmore posted net inflows of $1.1 billion for the quarter ended September 30, ahead of company-compiled consensus estimates of $900 million

  • All investment themes achieved net inflows, except corporate debt, which was flat

  • Developed-market bond yields spiked late in the quarter, but emerging markets' relative strength kept client responses and asset-price reactions subdued, CEO Mark Coombs said

  • Assets under management rose 1% to $54.5 billion at September 30 from $54.0 billion three months earlier

  • Gross redemptions fell to their lowest quarterly level in more than 15 years, helping support net inflows despite market volatility

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