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Ashmore Group profits climb 15% despite falling AUM and higher operating costs
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investmentweek.co.ukIn the company's latest annual results released today (5 September), the specialist emerging markets asset manager reported pre-tax profits of £128.1m in the year to 30 June. This included a £21.7m return from seed capital investments and £1m from FX gains. Excluding this, adjusted profits before tax stood at £105.4m, down 11.7% from £119.4m in the same period a year prior. Net revenue dropped 4% year-on-year, declining from £195.4m to £187.8m, while operating costs surged by 22.3%, rising from £92.4m to £113m. Ashmore Group suffers $2bn outflows as institutions slash EM exposure ...
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