Investment manager Ashmore Group (LON:ASHM) reported an 18 percent growth in assets under management on Thursday, boosted by strong performance across the emerging markets.

The group reported net inflows of $7.9 billion over the six months to the 31st December, and positive market performance of $3.2 billion.

Profit before tax fell by 18.5 percent to £99 million, leading diluted earnings per share to sink 19 percent. However, net inflows investment processes continued to deliver strong investment performance, with 82 percent of AuM outperforming benchmarks over one year, 93 percent over three years and 87 percent over five years.

“The favourable environment for Emerging Markets is reflected in Ashmore’s solid operating performance during the period,” said chief executive Mark Coombs.

“We expect another good year of performance across the range of Emerging Markets asset classes in 2018, as economic conditions continue to be supportive, valuations remain attractive, and therefore investors continue to increase allocations.”

Shares in Ashmore Group are currently down 0.67 percent at 417.20 (0938GMT).