Profits for Ashmore Leap by 40% in H2 2009

By Marcus Williams
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Emerging markets investment house Ashmore Group said half-year net profit jumped 40% to $172 million after markets bounced back.

The London-listed company had previously reported that assets under management increased $500 million to $31.6 billion in the three months to Dec. 31, due to $300 million of new cash and $200 million of positive performance.

Mark Coombs, chief executive of Ashmore, said in the statement: "Ashmore remains well-positioned to benefit from the opportunity presented by the increased importance of the emerging markets; role within the global order, and increased investor allocations into, and between, emerging markets."

By Marcus Williams - Emerging markets investment house Ashmore Group said half-year net profit jumped 40% to $172 million after markets bounced back. The London-listed company had previously reported that assets under management increased $500 million to $31.6 billion in the three months to Dec. 31, due to $300 million of new cash and $200 million of ...