Ashmore’s £2.3bn hit
invesTmenT manager Ashmore saw around £2.3bn wiped off the value of its assets as jitters around the Chinese property market put off investors.
Ashmore is one of the biggest international investors in crisis-hit Chinese property developer evergrande, which this week ramped up fears it could default on its massive £219bn debt pile after missing repayment deadlines. As a result, its assets under management had dropped 3.3pc since the end of June to £67bn.
‘Ashmore’s exposure to evergrande and the wider Chinese real estate sector has undoubtedly been a component of the recent additional underperformance,’ said David mcCann, analyst at the broker numis.
City & Finance
en-gb
2021-10-15T07:00:00.0000000Z
2021-10-15T07:00:00.0000000Z
https://mailonline.pressreader.com/article/283201561487631
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