UPDATE 1-Ashmore Q3 AUM up 4 pct to $33 bln

* AUM boosted by net inflows of $0.8 bln

* External debt and local currency strategies in demand

(adds details)

LONDON, April 14 (Reuters) - Emerging markets fund firm Ashmore (ASHM.L) said on Wednesday that net inflows and positive investment performance had helped lift assets under management in its third quarter to end-March by 4 percent to $33 billion.

This was in line with a forecast by analysts at Singer Capital Markets.

Ashmore said that assets had been lifted by net inflows of $0.8 billion, mainly into its external debt and local currency strategies, plus positive investment performance of $0.6 billion.

The firm said that trading conditions are in line with management expectations and it remains confident of its prospects in the current year.

Since the interim results in February, Ashmore's shares have risen some 20 percent, compared with a FTSE All-Share increase of 8 percent, reflecting its better fund performance, Singer said in a note ahead of the statement. The shares closed at 280 pence on Tuesday.