Ashmore, one of the best-known emerging market fund managers, has hailed a turnaround in sentiment in its full-year results and said it is increasing its headcount in places such as Colombia, Indonesia and Saudi Arabia.

Pre-tax profits at the group, which has been knocked hard by two years of difficult conditions for emerging markets, dropped by 8% in the 12 months to June 30, to £167.5 million, Ashmore said in a full-year results statement on September 6.