Ashmore Group today appeared to have put a recent quarter of outflows behind it, after new money and strong investment performance helped the emerging markets specialist asset manager beat analysts’ predictions in its fiscal first quarter.

Three months ago, Ashmore revealed that "adverse investment performance" was partly behind a 3.3% fall in assets under management as of the end of June, the firm's fiscal year-end. Net outflows of $600m over that period were the first quarterly outflows at the firm since 2009, according to trading statements on its website.