Emerging markets-focused fund manager Ashmore Group reported a sharp drop in its assets under management in the second quarter as a result of higher geopolitical tensions, faster-than-expected inflation and more aggressive interest rate hikes by the Federal Reserve.
AuM were reported down by 18.3% quarter-on-quarter for the three months ending on 30 June to reach $64.0bn, as a result of net outflows of $6.6bn and a negative investment performance of $7.7bn.
— More to follow —
