Ashmore (LON: ASHM) has revealed full-year results for the year ending 30 June.
Pre-tax profits at the asset manager rose 1% to £221.5m, despite a fall in assets under management amid the Coronavirus pandemic.
Assets under management fell 9% to $83.6bn. The group has proposed a final dividend of 12.10 pence, leading to a total dividend of 16.90 pence.
Shares fell by 0.2% in early trading on Friday.
Mark Coombs, the group’s chief executive, said: “Ashmore has delivered a solid operational and financial performance over the past year, against a backdrop of significant market dislocation in the third quarter as a result of the worldwide Covid-19 pandemic.”
“The group’s business model, based on a consistent global operating platform, has proven its resilience in this challenging period and, after the initial negative impact in the third quarter, the investment processes are delivering outperformance as markets recover and client flows have continued to stabilise.
“The economic and social effects of the virus will continue for some time and the medium to long term impact remains uncertain. However, the huge diversity of emerging markets means that countries will be affected and will respond differently, thereby providing a wide range of potential return scenarios for active managers,” he added.
Ashmore shares (LON: ASHM) are trading +0.1% at 392.00 (0939GMT).
