Fund manager Ashmore has seen its assets under management plummet by $9billion in just three months as investors pulled their cash from the emerging markets specialist. Markets have been rocked by the invasion and Ashmore said its clients had pulled $3.7billion from the investment manager as a result. Chief executive Mark Coombs said the consequences of the Ukraine invasion are ‘far-reaching’. Its net flows grew by £179million in the first quarter but ‘weaker global markets’ saw funds under management fall by 3.9 per cent. Chief executive Andrew Shepherd said despite volatile markets driven by the Ukraine invasion it had been a ‘solid quarter’ because of continuing positive net flows.

Source: Daily Mail April 15, 2022 05:13 UTC