(Reuters) -Emerging markets-focused fund manager Ashmore on Monday reported $3.9 billion in net outflows in the three months ended March 31, as some large institutional clients redeemed their holdings in currencies near the end of the period.
The company’s shares slipped 3.1% to 129.6 pence in early trade, hovering near a 16-year low hit last week.
Ashmore said market volatility had heightened since U.S. tariffs came into effect this month, but the institutional outflows did not indicate “a broader pattern of client activity”.
U.S. President Donald Trump’s policies have led to dramatic swings in global markets, with recently-announced tariffs sparking recession fears despite most being suspended for 90 days.
Ashmore CEO Mark Coombs said the increased volatility offered a chance for investors to reallocate their holdings into emerging markets.
Coombs said tighter fiscal policy in the United States, fiscal stimulus in Europe, higher rates in Japan and China’s focus on boosting domestic demand, along with the impact of the tariffs, would weaken the dollar and support emerging market performance.
The London-based firm reported assets under management of $46.2 billion at March 31, the end of its fiscal third quarter, down from $48.8 billion at the end of December.
(Reporting by Yamini Kalia and Shashwat Awasthi in Bengaluru; Editing by Varun H K and Mark POtter)
