Emerging Markets Strategic Initiatives
Delivering returns for shareholders through market cycles
.
•
°
Ashmore
Financial performance driven by high-quality revenues and highly
flexible cost base
- Strong bias to recurring management fee income
- Disciplined control of operating costs
- Profit-based variable remuneration with a cap
Profitability maintained through cycles
70%
100%
90%
80%
70%
60%
50%
|||||||
40%
Delivers high EBITDA margin through the cycle and consistent
cash generation
30%
20%
10%
0%
2016
2017
2018
2019
2020
65%
60%
55%
50%
2021
Remuneration philosophy aligns interests of clients, shareholders
and employees through long-dated equity ownership
Team-based culture mitigates key man risks
Net management fees (lhs)
Adjusted EBITDA margin (rhs)
Performance fees (lhs)
Disciplined control of operating costs (£m)
•
Well-capitalised, liquid balance sheet supports strategic and
commercial initiatives
57.7
55.0
35.6
43.0
48.6
53.6
30.2
28.0
28.3
24.4
26.5
22.3
24.1
24.8
24.2
26.5
27.6
26.7
2016
2017
2018
2019
2020
2021
■Staff costs
■Other operating costs
■Variable remuneration
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