LONDON Feb 25 British fund manager Ashmore's
pre-tax profits were a third lower in the last six
months of 2013, as investors moved money away from its core
emerging markets because of concerns over heightened volatility.
In an interim report on Tuesday, the FTSE 250 company
announced profits before tax of 79.5 million pounds ($132.21
million), down from 120.2 million pounds for the same period
Analysts at Numis had expected pre-tax profits of 92 million
Ashmore said it would pay out an interim dividend of 4.45
pence per share.
Assets under management were down $2.1 billion during the
period as a result of clients taking out $2.9 billion more than
they put in, but partially offset by investment perfomance of