Ashmore Emerging Markets Strategy Phase 3

Net management fee margins 141 EH1 2020/21 H2 2020/21 ■H1 2021/22 134 123 39 42 40 39 37 36 30 28 27 43 43 39 38 47 47 47 63 61 59 Ashmore Group External debt Local currency Corporate debt Blended debt Equities Alternatives Fixed income: 36bps (H1 2020/21: 39bps) (H2 2019/20: 37bps) 35

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