Fears for the future of emerging markets triggered a further $4 billion wave of redemptions at debt specialist Ashmore Group in its first quarter to September, reducing assets under management to $51.1 billion.

Assets under management were down $7.8 billion from $58.9 billion at the start of the quarter, due to the redemptions and investment losses of $3.6 billion, according to its results statement released October 15. Redemptions included "a small number of larger institutional redemptions that mostly occurred towards the end of the period."