Ashmore Group Q3 assets hit by outflows, performance

April 14, 2015 6:14 AM

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LONDON, April 14 (Reuters) - Emerging markets-focused fund management company Ashmore Group said on Tuesday its third-quarter assets under management fell by 4.1 percent to $61.1 billion, as clients pulled cash and it lost money on its investments.

The group posted net outflows of $2 billion and a negative investment performance of $600 million in the three months to end-March, it said in a statement, as weaker local currency returns were hit by stronger U.S. dollar recovery in fixed income and equity markets.

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