LONDON Jan 14 Ashmore Group said
clients pulled $3.5 billion more from its range of funds than
they put in during the last three months of 2013, as clients
took fright at heightened volatility in its core emerging
In a trading statement on Tuesday, Ashmore said assets under
management fell to $75.3 billion. Analysts at Numis had forecast
assets would come in at $79.9 billion after net inflows of $1.4
Ashmore said clients withdrew money from blended and
external debt, as well as equities and multi-strategy themes.
"Market performance and, to some extent, investor behaviour
during the quarter continued to be influenced by uncertainty
surrounding US monetary policy and the heightened market
volatility experienced since early May last year," Mark Coombs,
Ashmore's billionaire founder said in the statement.