Ashmore Group Plc (ASHM.L)

Asset manager Ashmore's share fall on worse than expected outflows

The company reported outflows of $2 billion in its financial third quarter to March 31, reducing assets under management to $51.9 billion from $54 billion on Dec. 30. That decline was driven by institutional clients looking to curb risk, primarily in local currency, blended debt and corporate debt, Ashmore said. Equities investment, meanwhile, registered a small net inflow and hard currency markets fared well.