Ashmore assets under management grow 3% in Q4

LONDON (ShareCast) - Emerging markets fund manager Ashmore (LSE: ASHM.L) saw assets under management leap by $1.2bn, or 3%, in the fourth quarter, taking the total for the year up 19% to $37.5bn.

The 3% increase during the three months ended 30 June was made up mostly of local currency and dollar debt, said the UK mid-cap.

Net subscriptions for the year were $3bn and investment performance contributed $2.9bn, with the local currency theme growing 70% to $8.5bn. Bosses think this growth opportunity will continue.

"The results for the full year are in-line with management expectations and include estimated net performance fees recognised in the six month period to 30 June 2008 of £12.8m, generated across all of the group's investment themes," said the firm.

Figures for the year to 30 June 2008 are penciled in for 16 September.

Source:http://uk.biz.yahoo.com/080717/214/i3bu7.html