By Sabela Ojea
Ashmore Group PLC said Tuesday that assets under management for the fourth quarter of fiscal 2020 rose 8.9% compared with the third quarter.
Assets under management for the three months ended June 30 increased to $83.6 billion from $76.8 billion in the prior quarter thanks to a positive investment performance of $9 billion and net outflows of $2.2 billion, the FTSE 250-listed fund manager said.
The company, which has a focus on emerging markets, said its "active investment processes delivered high levels of outperformance over the quarter and are therefore recovering the mark-to-market underperformance generated by the sharp market declines in February and March."
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