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)