Ashmore Group, the $51 billion emerging markets asset manager, has changed its broking line-up for the first time since floating a decade ago by adding a third broker – a month after rival funds house Aberdeen Asset Management made a similar move.

Ashmore, which has a £2 billion market capitalisation and is listed in the FTSE 250 index, has appointed Morgan Stanley as its joint broker, according to a statement from the fund manager on May 18.