Ashmore delivers more than ever

Ashmore delivers more than ever

Artjom Hatsaturjants, Research Analyst at Accendo Markets, commented this morning:

Shares in Ashmore rose almost 9% in early morning trading, topping the FTSE350, on news that Assets Under Management (AuM) increased by a whopping $7B in Q3. This represents the biggest quarterly surge since the quarter ended 30 Sept 2015 (+$7.8B), thanks to ravenous demand for exposure to emerging markets (EM).

Seeking perhaps to flee developed market volatility that kicked off at the end of January, client risk appetite strengthened on the backdrop of general interest in emerging markets which has pushed the MSCI Emerging Market Index up by more than 20% YoY, easily outperforming major developed equity indices (-4% to +6%), themselves seen as overvalued. Management points to a host of drivers for EM interest, including “attractive valuations … underweight allocations, improved earnings and credit fundamentals, and relative currency strength …”.

Emerging markets may well be similarly off their Jan highs, however this clearly hasn’t put any brakes on exposure, or indeed Ashmore financial performance. Investors are rewarding Ashmore shares, the stock price re-testing Feb 8th highs when it reported H1 results. The question now is whether the robust performance reported today can continue, and if the share price can put on another 5% to break higher and re-visit mid-Jan all-time highs.

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Accendo Markets

Accendo Markets is an online trading services provider, offering CFDs, spread betting and forex to retail (private) clients. Accendo Markets was established in 2007 and has since gone on to win various awards including ‘2018 Winner of Best CFD provider’ at City of London Wealth Management awards and 2017 & 2018 Best CFD Research Service in ADVFN’s International Financial Awards Accendo Markets Ltd. is authorised and regulated by the Financial Conduct Authority (FCA). For more information, visit