Ashmore reports 900 million dollar quarterly outflows
The UK wealth manager saw net outflows of 900 million dollars as geopolitical risks hit investor appetite. Assets under management fell to 50.7 billion dollars.
The United Kingdom-based wealth manager ASHMORE GROUP PLC reported net outflows of $900 million for the third quarter of its fiscal year, as escalating geopolitical tensions in the Middle East weighed on investor sentiment. This shift marks a return to the trend of client withdrawals observed last year, following a brief period of net inflows in the previous two quarters.
Total assets under management for the firm fell to $50.7 billion as of March 31, a decrease from the $52.5 billion reported at the end of December. Emerging markets are frequently susceptible to capital outflows and currency volatility during periods of heightened geopolitical uncertainty, leading many investors to pivot toward safe-haven assets. Ashmore noted that some clients are currently adopting a wait-and-see approach as they evaluate the risk landscape.
