Ashmore Group’s assets under management (AUM) have risen by $3.3bn in the fourth quarter of 2026, even as conflict in the Middle East has led to investor uncertainty.
This rise represented roughly $2bn of positive investment performance and $1.3bn of net inflows. According to data from FE fundinfo, the Ashmore Emerging Markets Corporate Debt fund is up 1% so far this year.
The Ashmore team saw inflows across most asset classes, including local currency debt, corporate debt, blended debt and broader equities. That said, external debt saw a slight decline, down from $8bn to $7.8bn compared to 31 March 2026. This was primarily the result of a small number of institutional redemptions, according to the report.
Mark Coombs, chief executive officer at Ashmore Group, said: “Emerging markets performed well, demonstrating their diversity and resilience following the market volatility caused by the closure of the Strait of Hormuz and the corresponding oil price spike.”
Looking forward, Coombs argued the risk of global inflation shock has reduced, real incomes are recovering, and markets are increasingly pricing in a “Goldilocks” environment underpinned by AI and energy security spending.
“Therefore, the forward-looking macroeconomic environment, together with the longer-term impact of recent US foreign policy, is expected to be supportive for EM,” he concluded.
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