Ashmore

Is Ashmore running out of road? The emerging markets fund manager, which on Thursday posted a 7.4 per cent drop in interim pre-tax profits, says not. But investors aren’t so sure. The shares dipped 1 per cent the news, which is nothing given the general flight out of EMs on the day.

But after doubling in 2009-10, in the recovery from the 2008 crisis, Ashmore shares have gained very little in the past two years. Clearly, investors need to be convinced that the group can find new ways of profiting from EM in the face of growing low-cost competition from index-tracking rivals. Continue reading »

It helps if you keep your head in choppy waters. Ashmore, the emerging markets debt specialist manager, seems to have done just that.

The group on Tuesday reported results for the year to the end of June which modestly exceeded market forecasts, with a slight dip in pre-tax profits from £245.9m last year to £243.2m.

Ashmore made up for a fall in performance-linked fees with increases in basic management fees.  That’s good for shareholders in Ashmore, though not necessarily for investors in its funds. Continue reading »