UK asset manager Ashmore reports 32% drop in annual outflows

Emerging markets-focused asset manager Ashmore ASHM reported a 32% reduction in full-year outflows on Friday, helped by recent investment gains, as investors rebalance their portfolios away from the U.S. on global market volatility.

The British company reported net outflows of $5.8 billion in the year ended June 30, compared with $8.5 billion a year ago.