Ashmore Group Stock Earnings Reports

Ashmore reported FY June 2025 results with resilient investment performance, stabilising assets and improved flows despite a tougher revenue environment. Key operational and financial points: AUM $47.6bn (down ~3% year‑on‑year; average AUM down ~7% vs FY24), with positive investment performance contributing $4.1bn. Net outflows reduced ~32% vs FY24 and there were net inflows in equities, alternatives, investment‑grade and local office businesses; high‑yield remains the laggard. Adjusted net revenue fell 22% to GBP 146.5m (management fees down ~19% to GBP 129.7m), driven by lower average AUM, weaker dollar and lower performance fees (GBP 10.2m). Adjusted operating costs fell 14% to GBP 97.0m; adjusted EBITDA was GBP 52.5m (36% margin). Diluted EPS 11.8p (adjusted 7.1p); dividend maintained at 16.9p (final 12.1p). Seed capital delivered strong mark‑to‑market gains of GBP 40.1m; seed program now ~GBP 350m with continued investment to support product launches (frontier debt, ex‑China equity, impact debt, private markets). Local office strategy progressed ($7.8bn AUM across local offices) with new openings in Qatar and Mexico; local businesses delivered high EBITDA margins (mid‑40s) and contributed ~1/3 of group profits. Balance sheet remains strong: total financial resources GBP 604m vs assessed capital requirement GBP 93m, cash ~GBP 340m. Outlook: management sees a constructive backdrop for EM (weaker dollar, higher real rates, improving earnings momentum), expects flows to continue improving as performance and allocation conversations gain traction, and will continue to control costs while investing selectively in higher‑margin equity, alternatives and local market initiatives.