Companies
Ashmore assets up 3%
By Henry Tyler
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Posted 17 July 2008 @ 10:29 am GMT
Ashmore Group said on Thursday that its assets under management increased three per cent in the three months to 30 June and added that its full year results were in line with expectations.
Commodities were best performing asset in 2007The firm, which focuses on fund management for emerging markets, said that in the three months to June its total assets under management increased from $36.3 billion to $37.5 billion.
Ashmore said the rise in assets was due mainly to new client subscriptions.
The company said that its performance fees, which are paid when investment returns go beyond stated targets, were £12.8 million in the period.
Ashmore said that its full year results for the year to June were "in line with management expectations," and would be published on 16 September.
This article is copyrighted by the International Business Times.
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