Ashmore Group Plc

Ashmore Group reported assets under management of $54 billion for fiscal 2026, up 13%, driven by $3.7 billion of positive investment performance and $2.7 billion of net inflows. Subscriptions nearly doubled year on year to $12.5 billion, with roughly a 20% increase in the second half, while redemptions fell 20% year on year, the fourth consecutive year of reducing outflows. Profit before tax rose 17% to GBP126.9 million and diluted EPS climbed 28% to just over 15p per share, though adjusted net revenue fell 7% year on year on a weaker US dollar and lower performance fees, and the operating margin compressed to 26% from 37%, with the underlying margin excluding seed capital improving to 40%. The full-year dividend was maintained at 16.9p per share, including a final dividend of 12.1p, and the firm guided to performance fees of no more than GBP5 million for fiscal 2027. On the call, Group Finance Director Tom Shippey said Japan Post committed an incremental $1 billion over 12 months, with just under one-third invested by June, and CEO Mark Coombs said the balance sheet will be the main driver of the alternatives build-out, focused on emerging market infrastructure.