The challenges in emerging markets show no signs of abating for Ashmore, as the specialist funds group's revenues and profits fell sharply in the six months to December 31, while the proportion of its assets outperforming their benchmarks over three years plummeted.

London-based Ashmore said in its interim results statement covering the six-month period - the firm's fiscal first half - on February 11 that net revenues declined 29% from the year-ago period to £116.4 million, while pre-tax profits fell 43% to £62.7 million.