Posted By Global Banking and Finance Review
Posted on January 15, 2025
(Reuters) -Emerging markets-focused wealth manager Ashmore reported a 6% fall in second-quarter managed assets on Wednesday, driven by a negative investment performance of $2.6 billion and volatile market conditions ahead of the U.S. elections.
The company reported $48.8 billion of total assets under management at the end of December, down from $51.8 billion reported in the prior quarter.
"Market conditions were more volatile this quarter, particularly leading up to the U.S. election," CEO Mark Coombs said in a statement, adding that global capital markets will likely remain sensitive to the new U.S. administration's policy announcements.
Worries around Trump's aggressive promises to place additional tariffs on China have threatened a swathe of emerging countries and dragged recovering investor sentiments once again.
Emerging market countries and companies have issued a flood of bonds topping $55 billion, the most in years, as borrowers rush to lock in cash before the potential tumult of the second Donald Trump administration in the United States.
(Reporting by Yamini Kalia in Bengaluru; Editing by Janane Venkatraman)