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Markets News

Money manager Ashmore posts lower AUM on mounting market losses

Sept 11 (Reuters) - Emerging markets-focused money manager Ashmore reported a drop in assets under management (AUM) on Friday, hit by a coronavirus-driven selloff in markets earlier this year, although full-year earnings still rose on cost controls.

Ashmore said its AUM fell 9% to $83.6 billion, while adjusted earnings before interest, taxation, depreciation and amortisation climbed to 222.5 million pounds ($285.3 million)for the 12 months ended June 30 from 201.8 million pounds a year earlier.($1 = 0.7800 pounds) (Reporting by Muvija M in Bengaluru; Editing by Anil D’Silva)

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