The emerging markets fund manager Ashmore published full year results this morning and investors were seemingly left feeling short changed. Despite the construct that emerging markets are the place to be as rotations out of more traditional assets continue to be seen, net outflows exceeded the fund’s investment performance. Costs are down but so is profitability and the Ashmore share price was almost 10% lower in early trade although managed to recoup some of those losses as the morning progressed.
Modest gains for Berkeley Group this morning off the back of a trading statement published ahead of the AGM. There’s nothing to spook the market here with the full year performance remaining on track and shareholder returns being sustained, too. Management note that a further £640m is set to be distributed between now and 2030. The Berkeley share price was 2% higher shortly after the open.
The UK's largest retailer of musical instruments and music equipment also issued a pre-AGM trading statement today, noting that the strong momentum previously highlighted has been sustained. That has been sufficient to see management upgrade expectations for the full year once again. The market has reacted positively with the Gear4usic share price adding almost 10% by 9am.
Most read news on Investegate this morning
Fundraising to raise £1.58 million - - Oberon Investments Group Plc (OBE)
Appointment of Interim Chief Financial Officer - - Treatt (TET)
