September 7, 2018 / 7:21 AM / 2 months ago

Asset manager Ashmore says EM turmoil yet to hit client sentiment

LONDON, Sept 7 (Reuters) - Emerging markets-focused asset manager Ashmore said clients are still looking to allocate money to its emerging market funds despite a sharp sell-off in many markets over recent weeks.

Fears a trade spat between the United States and China could escalate plus economic ructions in Turkey and Argentina have battered the latter’s currencies and debt and pushed a broad gauge of emerging market stocks to a 14-month low.

Weakening market sentiment has yet to translate to outflows, however, and Ashmore said the trend established in its fourth quarter has since continued. End-June assets were a previously reported $73.9 billion, up 26 percent on the year. (Reporting by Simon Jessop, editing by Maiya Keidan)

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