LONDON (Reuters) – Emerging market fund manager Ashmore <ASHM.L> posted a 10% rise in core profit for its financial year ending June 2019 on Friday, helped by both inflows and positive market performance, though the results were slightly below a consensus forecast.
The company, which invests across a range of equity, debt, multi-asset and alternative funds for institutional and retail clients, recorded adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) of 201.8 million pounds.
The results compare with a company-supplied consensus forecast of 205.5 million pounds.
Markets remain relatively healthy, chief executive Mark Coombs said in a statement, though he cautioned on the U.S.-China trade spat, pointing to “the impact that confrontational trade policy and slowing domestic growth will have on the broader global economy”.
Assets under management were previously reported at $91.8 billion at the end of June, up 24% from a year earlier.
The asset manager recorded net inflows of $10.7 billion over the one-year period and positive investment performance of $6.9 billion.
Ashmore said it would pay a final dividend of 12.10 pence per share.
(Reporting by Carolyn Cohn, Editing by Abhinav Ramnarayan)