# Ashmore Group plc Delivered a respectable operating performance

- Link: https://www.directorstalkinterviews.com/ashmore-group-plc-delivered-a-respectable-operating-performance/412767237
- Published: 2019-02-14T07:57:23+00:00
- Author: Charlotte Edwards

**Ashmore Group plc** (LON:ASHM), the specialist Emerging Markets asset manager,
today announces its unaudited results for the six months ending 31 December 2018.

– Assets under management (AuM) of US$76.7 billion, 10% higher than a year ago

– Resilient net inflows of US$2.4 billion in the six months reflecting broad-based
institutional client demand and continued growth in retail AuM

– Investment performance remains strong

– 97% of AuM outperforming benchmarks over three years and 92% over five years

– 30% outperforming over one year, as Ashmore’s active investment processes have
bought into value created by volatile global markets

– Business model delivers through market cycles

– Revenue growth of 13% driven by 18% increase in net management fee income; performance
fees of £1.2 million

– Adjusted EBITDA increased 8% to £98.8 million; margin maintained at 67%

– Growth in operating profit offset by seed capital mark-to-market

– Profit before tax of £93.0 million, 6% lower YoY

– Seed capital mark-to-market resulted in a loss before tax of £9.7 million (H1 
2017/18: £10.5 million gain)

– Diluted EPS of 10.1p and interim dividend per share of 4.55p

– Positive start to 2019

– Mark Coombs has agreed with the Board a prudent and transparent approach to manage
his shareholding (c. 39%) down to a more appropriate level over the medium term 
by selling up to 4% of Ashmore stock each year into the market

– He continues to be fully committed to Ashmore in his current role

> **Commenting on the Group’s results, Mark Coombs, Chief Executive Officer, Ashmore
> Group said:**
> “Ashmore delivered a respectable operating performance in the first half and has
> experienced a positive start to 2019. The Emerging Markets are in good health 
> with high GDP growth, low inflation, attractive valuations and, after a slight
> pause in allocations at the end of 2018, there is renewed momentum in capital 
> flows. The temporary factors that supported the US dollar in 2018 are fading, 
> and consequently Emerging Markets assets are performing strongly and Ashmore’s
> active investment approach is delivering outperformance.”

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