Hints and tips:
...Emso, with just under $6bn under management and offices in the UK and US, was founded in 2000 by former Salomon Brothers emerging markets banker Mark Franklin. Emso declined to comment....
...Monday India, December wholesale price index (WPI) inflation rate data Results: Ashmore Q2 trading update, Rio Tinto Q4 operations review (Tuesday AM local time in Sydney, Australia), UMC 4Q Tuesday...
...Friday: Lender Close Brothers and asset manager Ninety One give updates. There are also retail sales numbers from the ONS....
...The spokesman added Mr Oliver’s restaurants business had hired a new chief financial officer, Tamsin Ashmore, who will start next month....
...● In brief: Ashmore raised to “hold” at HSBC; Close Brothers cut to “hold” at Peel Hunt; Diversified Gas & Oil cut to “hold” at Stifel; AB InBev upgraded to “sector perform” at RBC; Pandora AS downgraded...
...Sean Tuffy, head of strategy for Europe at Brown Brothers Harriman, the US bank, said: “Most asset managers are enacting plans to Brexit-proof parts of their businesses....
...Like Perl, he bailed in April 2007, after Goldman and Lehman Brothers said they’d had their fill of subprime....
...Other asset managers, including Schroders and Ashmore, have held back from making operational changes before having more clarity on Britain’s future relationship with the EU....
...This is potentially problematic for Henderson, Ashmore, Baillie Gifford, Man, LGIM, Jupiter and Vanguard....
...Sean Tuffy, head of regulatory affairs at Brown Brothers Harriman, the investment group, says the fallout for fund managers “depends on how nasty the divorce gets” between the EU and the UK....
...Jan Dehn, head of research at Ashmore Investment Management, said Citibank’s emerging market inflation surprise index has consistently shown more unexpected downside than upside moves since 2012....
...As Jerome Booth, formerly of Ashmore, an EM specialist fund manger, wrote in his recent book Emerging Markets in an Upside Down World, one of the aims of many EM governments has been “to issue long-term...
...Fund managers mirrored the day’s trend, with Aberdeen Asset Management down 3.4 per cent to 422.8p, Schroders falling 3.1 per cent to £21.92 and Ashmore off 1.3 per cent to 375.1p....
...The group’s traditional focus on European equities has also helped as these assets are back in favour after being no-go areas for investors since Lehman Brothers crashed in 2008....
...Jerome Booth, Head of Research, Ashmore Investment Management, London WC2, UK...
...- Ashmore says assets under management fell 10.5 per cent quarter-on-quarter; equities business down 27 per cent — statement....
...From Ashmore (our emphasis): Brazil is also among the major interveners....
...Ousmène Mandeng, a former senior IMF official now at Ashmore Investment in London, concurs. “The management style of the institution is largely European – hierarchical and bureaucratic,” he says....
...Bluebay was 29.6 per cent higher at 487p while Ashmore Group added 1.5 per cent to 381½p and Close Brothers took on 1.8 per cent to 773p....
...Brother of Helena, the actress. and great-grandson of Lord Asquith the Liberal prime minister, he holds 18m shares in Jupiter, or just more than 6 per cent....
...Already, spreads on emerging market bonds denominated in US dollars have narrowed to levels last seen before the collapse of Lehman Brothers....
...surprise that the median listed asset manager saw its shares plunge 50 per cent in 2008, but rebound 46 per cent this year, with the likes of Bluebay, Gottex, Banca Generali, Azimut, Henderson, Blackstone and Ashmore...
...But while spreads on dollar-denominated EM bonds have narrowed to levels last seen before the collapse of Lehman Brothers, local-currency denominated EM bonds, such as the Brazilian real, present investment...
...- Ashmore report assets under management down 14.7% at $32bn – statement. - Rathbone Brothers report assets under management down 5.7% at £9.9bn – statement....
...Jerome Booth, of Ashmore Investment Management, said: “Which is the stronger economy, Brazil or Italy? The economic fundamentals are still strong in many emerging markets.”...
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