Outflows continue at Ashmore as investors shun EMs

Investors pulled another $2bn (£1.4bn) from the emerging market specialist's funds in the first three months of this year, as concerns over emerging markets continued to weigh on sentiment. However, compared to last year the outflows are beginning to slow down and were just half of those seen in the fourth quarter of last year, which amounted to a total of $4.2bn. The group said it has seen a "modest improvement in new subscriptions", as some clients started to take advantage of the low valuations in some emerging regions. Overall, Ashmore's blended, corporate and external debt, mu...