Emerging markets specialist Ashmore hints at rebound

Asset manager Ashmore reported a strong final quarter in 2022, driven by an increase in its emerging market debt portfolio.

Ashmore’s total assets under management increased by $1.2bn (£984m) to $57.2bn in the quarter to Dec 31, despite the withdrawal of $2.6bn by investors over the period.

The London-listed manager saw its equity portfolio rise by 2pc, while fixed income products rose by 3pc. The company’s benchmark indices for emerging markets rose by 5pc to 10pc.

Mark Coombs, the chief executive, said he expected “increased risk appetite”, saying that some of the headwinds of 2022, such as the Fed’s policy tightening and Chinese pandemic restrictions were receding.