LONDON (Reuters) – Emerging markets investment firm Ashmore Group said assets under management tumbled by $14.3 billion during the quarter to June 30, as key global markets buckled under rising geopolitical tensions and inflation spooked investors.
Ashmore said the fall comprised net outflows of $6.6 billion and negative investment performance of $7.7 billion.
“The decline in Ashmore’s AuM over the quarter reflects this challenging market backdrop as asset values fell and investors de-risked portfolios,” Chief Executive Mark Coombs said.
(Reporting by Emma-Victoria Farr, editing by Sinead Cruise)
