(Tiper Stock Exchange) – Ashmore Groupa British investment manager dedicated to emerging markets, ended the year ended 30 June 2023 with Net revenues adjusted at £195.4 million, down 24% year on year, EBITDA adjusted £106.2 million (-35%) with adjusted EBITDA margin of 54%, and EPS at 12.2 pence, 4% lower than a year earlier.
The Assets under management (AuM) decreased 13% over the year to $55.9 billion, with the movement attributable to net outflows of $11.5 billion, offset by positive investment performance of $3.4 billion , implemented in each of the six investment themes.
“Ashmore delivered significant outperformance on client investments this year and the slaunch is growing as the recovery in emerging markets continues – commented the CEO Mark Coombs – While the group’s financial performance naturally lags this market recovery and relative performance, as has been experienced after previous bear cycles, a consistent strategy underpins Ashmore’s medium-term growth potential and the model business is designed to mitigate the impact of market volatility.”
“There is growing evidence that the downturn has reversed and, while the recovery may not be a straight line, it is well supported by the improving fundamentals in the largest emerging countries – he explained – Some investors remain cautious, but client activity levels are increasing and the combination of positive performance and attractive valuations available in emerging markets should drive capital flows over the medium term”.
(Photo: Photo by Sean Pollock on Unsplash)