Ashmore Group plc (LSE:ASHM) increased its assets under management by 7% during the fourth quarter, reaching an estimated $54.0 billion as of 30 June 2026. The growth was supported by $2.0 billion in positive investment performance and $1.3 billion of net inflows, reflecting improving sentiment across emerging markets.
The increase in assets was spread across several investment strategies, including local currency, equities, blended debt and corporate debt portfolios. External debt was the only area to record modest net outflows, primarily due to a limited number of institutional client redemptions.
Ashmore noted that emerging market performance remained strong during the period, with fixed income indices delivering gains of between 2% and 5%, while large-cap equity markets advanced 24%. The company also said its actively managed strategies continued to outperform their respective benchmarks across both fixed income and equity products.
Management believes the investment backdrop for emerging markets is becoming increasingly favourable as the risk of a renewed global inflation shock eases and macroeconomic conditions move towards a more balanced “Goldilocks” environment. The firm added that increasing geopolitical complexity and shifting global investment trends are expected to strengthen demand for specialist active managers focused on emerging markets.
Ashmore’s outlook is supported by solid profitability, a highly conservative balance sheet with minimal leverage, positive share price momentum and an attractive valuation, including a dividend yield of 6.81% and a price-to-earnings ratio of 14.343. However, the company continues to face challenges from declining revenue, softer operating cash conversion and ongoing pressure on management fees, while the timing of performance fees remains a potential source of earnings volatility.
About Ashmore Group plc
Ashmore Group plc is a specialist investment manager focused exclusively on emerging markets. The company provides institutional and other investors with a range of actively managed strategies spanning fixed income, equities and alternative investments, including external debt, local currency, corporate debt and blended debt portfolios.
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