With Aberdeen Asset Management about to disappear into the maw of Standard Life, Ashmore Group will soon be the only big UK-listed fund manager giving pure exposure to emerging markets. On that ground alone, it’s worth a fresh look, but yesterday’s trading statement offered another reason. The group announced its first quarter of positive inflows for three years, sucking in a better-than-expected net $1.4 billion of new mandates.
Emerging markets have been out of favour with investors for some time, partly because of the commodities and energy downturn, partly because of rising interest rates in America. It’s too soon to call the end of that headwind, but Ashmore is doing well in the meantime, not least because of its benchmark-beating investment performance over three and