StockMarketWire.com - Asset manager Ashmore reported Thursday assets under management increased in the first half as inflows were bolstered by renewed momentum in emerging markets amid signs the dollar is set to weaken.
It has become increasingly apparent that the level of my equity ownership, currently c.39%, could restrict Ashmore's future success and that it would be prudent to prevent the size of my shareholding becoming a more significant issue over time.
CEO Mark Coombs, meanwhile, agreed with the board to cut his shareholding of about 39% down to a more 'appropriate level' over the medium term by selling up to 4% of Ashmore stock each year into the market.