BREAKING NEWS
This content is not available in your region

Asset manager Ashmore says EM turmoil yet to hit client sentiment

Access to the comments Comments
Text size Aa Aa

LONDON (Reuters) – Emerging markets-focused asset manager Ashmore <ASHM.L> said clients are still looking to allocate money to its emerging market funds despite a sharp sell-off in many markets over recent weeks.

Fears a trade spat between the United States and China could escalate plus economic ructions in Turkey and Argentina have battered the latter’s currencies and debt and pushed a broad gauge of emerging market stocks <.MSCIEF> to a 14-month low.

Weakening market sentiment has yet to translate to outflows, however, and Ashmore said the trend established in its fourth quarter has since continued. End-June assets were a previously reported $73.9 billion, up 26 percent on the year.

(Reporting by Simon Jessop, editing by Maiya Keidan)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.