Emerging Markets Investment Overview
Revenues
•
Adjusted net revenue -12% YoY
•
Net management fees -6%
•
Average AuM +4% YoY offset by higher average GDP:USD
Net management fee margin 39bps (-3bps YoY / -1bp HoH)
Movement primarily due to retail & mutual fund flows (-2bps)
Large mandate flows, competition & product mix (-1bp)
Adjusted net revenue (£m)
156.8
(7.9)
Ashmore
(4.6)
(6.1)
138.2
•
Performance fees delivered across range of fixed income funds
H1 2020/21
Net management Performance fees
fees
Other
H1 2021/22
•
FX gains from hedges and active management
Figures stated on an adjusted basis, excluding FX
translation and seed capital-related items
H1 2021/22
H1 2020/21
YOY
£m
£m
%
Net management fees
131.0
138.9
(6)
Performance fees
3.1
7.7
(60)
Other revenue
1.4
1.5
(7)
FX: hedges
2.7
8.7
(69)
Adjusted net revenue
138.2
156.8
(12)
30View entire presentation