Ashmore Group plc investment

RNS Number : 9119S

Ashmore Group PLC

28 May 2009

 

Ashmore Group plc ('Ashmore', the 'Company') investment in Ashmore Global Opportunities Limited ('AGOL')

Ashmore today announces that it has made an investment of €5.1m in AGOL, the London listed investment scheme. The investment was made through Ashmore's wholly owned subsidiary, Ashmore Management Company Limited, using existing cash resources and represents 1.88% of AGOL's voting rights.

AGOL focuses principally on making investments in Special Situations, which is Ashmore's private equity / distressed debt investment theme. Ashmore believes that there is currently a significant opportunity to make investments in non-distressed assets at distressed prices. Ashmore's investment in AGOL therefore provides the Company with the ability to participate in the attractive investment returns which Ashmore believes will be delivered in the Special Situations investment theme over the near term. 

As at 31 December 2008, AGOL had gross assets of US$566.9 million and recorded a loss for the period to 31 December 2008 of US$203.5 million.

Ashmore Investment Management Limited, a subsidiary of Ashmore, is the investment manager of AGOL.

Enquiries:

Ashmore

Graeme Dell                                                                                     [phone]

Penrose 

Gay Collins                                                                                       [phone] / + 44 7798626282

 

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