Ashmore Group (ASHM) Investor presentation summary

Business overview and strategy

• Specialist emerging markets manager with $54.0bn AuM, diversified by asset class and client type.

• Three-phase growth strategy: increase EM allocations, diversify investment themes, and mobilise EM capital.

• Active, committee-based investment process with a 'no star' culture to mitigate key person risk.

• Global operating hubs and local platforms serve a broad institutional and retail client base.

• Remuneration aligns employee and shareholder interests, with ~38% equity owned by employees.

Market environment and opportunity

• Emerging markets expected to grow twice as fast as developed markets, with inflation under control and attractive real rates.

• EM assets trade at a significant discount to developed markets, offering valuation upside.

• Active management preferred due to index concentration risks and alpha opportunities.

• Structural shifts, such as local currency funding, enhance EM resilience.

Growth strategy execution

• Net inflows of $2.7bn in FY2026, with subscriptions up 92% YoY to $12.5bn.

• Diversification across asset classes and client types, with growth in equities, alternatives, and intermediary retail.

• Local office network in EM countries drives AuM growth (+13% YoY), with new products and digital channels.