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Ashmore shares jump on healthy investor inflows

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Shares in fund manager Ashmore jumped after it reported its strongest inflows in four years, with investors keen to take a punt on emerging markets.

Net inflows hit $4.3bn (£3.2bn) in the first three months of its financial year to September 30. This was the third consecutive quarter of inflows, after two years of money flowing out.

Total assets under management soared 11pc to $65bn.

The FTSE 250 company’s stock climbed as high as 11pc in early trading, before settling around 6pc higher in mid-morning at 374p. The shares are up around 32pc in the year to date.

Mark Coombs, Ashmore’s chief executive, said investors were “increasingly focusing” on emerging markets, a trend that began earlier this year.

“Emerging markets are continuing to outperform as we would expect at this point in the cycle, with perceived challenges such as rising US interest rates having been anticipated and priced in,” he said.

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