Emerging Markets Strategic Initiatives
Financial results
Foreign exchange
Ashmore
•
Sterling strengthened against the US dollar over the period
Currency exposure of cash (1)
-
Period-end rate moved from 1.2356 to 1.3815
30 June 2021
%
30 June 2020
%
£m
£m
-
Average rate 1.3472 vs 1.2637 in FY2019/20
US dollar
Sterling
341.3
77
380.5
78
76.0
17
66.0
13
Other
Total
28.4
6
43.6
6
445.7
490.1
•
P&L FX effects in FY2020/21:
-
Translation of net management fees -£17.9 million
Translation of non-Sterling balance sheet items -£4.9 million
Net FX hedges +£9.2 million
Operating costs +£1.7 million
Unrealised seed capital -£5.3 million
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')
(1) Excludes consolidated funds. See Appendix for reconciliation to statutory
consolidated cash flow statement
Currency exposure of seed capital
30 June 2021
%
30 June 2020
£m
£m
US dollar
297.6
88
213.7
90
Colombian peso
16.2
5
13.9
CO
6
Other
23.0
7
10.8
Total
336.8
238.4
сл
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