UK's Ashmore first — quarter inflows beat expectations on emerging market resilience

Oct 14 (Reuters) — Asset manager Ashmore reported first-quarter net inflows ahead of expectations on Wednesday, as investors kept piling money into emerging market assets despite a selloff in global bond markets. Here are some details from the company: Ashmore posted net inflows of $1.1 billion for the quarter ended September 30, ahead of company-compiled consensus estimates of $900 million All investment themes achieved net inflows, except corporate debt, which was flat Developed-market bond yields spiked late in the quarter, but emerging markets' relative strength kept client responses and asset-price reactions subdued, CEO Mark Coombs said Assets under management rose 1% to $54.5 billion at September 30 from $54.0 billion three months earlier Gross redemptions fell to their lowest quarterly level in more than 15 years, helping support net inflows despite market volatility (Reporting by Atharva Singh in Bengaluru; Editing by Rashmi Aich) ((mailto:Atharva.Singh@thomsonreuters.com;)