Ashmore Emerging Markets Strategy Phase 3
Foreign exchange
.
Sterling weakened against the US dollar over the period, but
average rate was stronger YoY
Period-end rate moved from 1.3815 to 1.3545
-
Average rate 1.3636 vs 1.3107 in H1 2020/21
•
P&L FX effects in H1 2021/22:
-
Ashmore
Currency exposure of cash (1)
31 December 2021
%
30 June 2021
%
£m
£m
US dollar
Sterling
Other
Total
284.7
64
341.3
77
138.0
31
76.0
17
21.7
5
28.4
6
444.4
445.7
Translation of net management fees -£5.3 million
Translation of non-Sterling balance sheet items +£0.3 million
Net FX hedges +£2.7 million
Seed capital -£0.9 million
(1) Excludes consolidated funds
FX sensitivity:
~£3.0 million PBT for 5c movement in GBP: USD rate
£2.0 million for cash deposits (in 'foreign exchange')
- £1.0 million for seed capital (in 'finance income')
Currency exposure of seed capital
31 December 2021
%
30 June 2021
%
£m
£m
US dollar
291.2
87
297.6 88
Colombian peso
15.6
5
16.2
LO
5
Other
28.0
8
23.0
Total
334.8
336.8
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