In a trading update, the FTSE250 investor said its assets under management rose by
Ashmore's funds notched a positive investment performance of
Despite "risk aversion" continuing to grip some of its clients, bosses said they were now expecting a resurgence in appetite in the coming months as inflation cools and central banks begin to weigh up rate cuts.
"Emerging Markets delivered good returns and outperformed most developed world indices in 2023 due to superior economic growth, effective monetary policies and the benefits of a weaker US dollar as the Fed reaches the end of its tightening cycle," said
"These factors, along with attractive absolute and relative valuations, will support emerging markets asset prices in 2024, leading to outperformance and higher allocations from investors who currently have significantly underweight allocations to emerging markets."
Ashmore's prediction follows a similar bet from analysts at Lazards last week who said equities in emerging markets are becoming "ever more attractive" and remain "one of the most mispriced asset classes globally".
However, Ashmore has been among a host of
(c) 2024 City A.M., source