Emerging markets-focused fund manager Ashmore group PLC (LON:ASHM) reported an 11% increase in its AUM (assets under management) in the three months to end September, compared to the previous quarter.
The figure rose to an estimated US$65bn, an increase of US$6.3bn. Of that US$18.8bn was blended debt, and US$14.4bn was external debt.
"The increased levels of client engagement and activity experienced over recent months resulted in strong gross subscriptions during the quarter, notably with the funding of several large institutional mandates in external debt and blended debt.
"At the same time, gross redemptions have continued to fall quarter-on-quarter, delivering the highest net inflows for four years," the group said.
Focus on emerging markets
Mark Coombs, chief executive at Ashmore, said: "Investors are increasingly focusing on emerging markets and it is encouraging to see strong inflows this quarter.
"Emerging Markets are continuing to outperform as we would expect at this point in the cycle, with perceived challenges such as rising US interest rates having been anticipated and priced in.
"Ashmore's investment performance continues to be very strong, meaning the group is well positioned as investors address their underweight allocations to Emerging Markets."
Broker Numis noted that AuM had been 5% higher than its US$61.9bn forecast, predominantly reflecting a stronger than expected $4.3bn net flows.
Analyst David McCann said he still considered Ashmore a core long term sector holding although many short to medium term headwinds remain.
Shares gained 9% in early deals to stand at 385p.