Dollar’s retreat sinks Ashmore as investors flee February 25, 2014 A WEAK dollar helped propel a big slide in profits at fund manager Ashmore last year, as continued uncertainty over emerging markets helped drive outflows at the group. The emerging market specialist blamed the dollar’s retreat against sterling during the last six months of 2013 for a £30m decline in pre-tax profits. Sterling rose nine [...]
Ashmore rocked by jitters over emerging debt January 14, 2014 EMERGING market specialist Ashmore Group crashed on the stock market yesterday after it revealed an exodus of cash from funds and a cut to management charges which will reduce revenues by $25m (£16m). Shares in the company fell more than 12 per cent after it revealed that investors pulled $3.5bn from its funds in the [...]
Ashmore wins China investment licence in first for a western firm January 7, 2014 LONDON’S push to become a leading foreign centre for yuan trade took a step forward yesterday after Ashmore became the first western asset manager to secure a licence to invest directly in China’s capital markets. China’s cautious embrace of international cash resulted in a coup for Britain last October, when London became the sole non-Asian [...]