Latest news with #Ashmore
Yahoo
5 days ago
- Business
- Yahoo
Finalists selected for top post at Alabama State Employees' Insurance Board
SEIB CEO William Ashmore and Chair Faye Nelson discuss health insurance changes for state employees on Aug. 22, 2023 at the SEIB executive meeting in Montgomery. The Alabama State Employees' Insurance Board plans to make a final selection by June 18 after narrowing its CEO search to three finalists. (Alander Rocha/Alabama Reflector) The Alabama State Employees' Insurance Board (SEIB) has narrowed its search for a CEO to three finalists from an initial pool of 49 individuals. Members of the SEIB executive committee on Wednesday laid out a timeline for the final selection process, which started after William Ashmore, the board's outgoing CEO of SEIB, which oversees health insurance for state employees, announced his retirement in March. The three remaining candidates were selected after initial screenings and interviews conducted by ITAC Solutions, a Birmingham-based recruiting firm, based on criteria established by the board, including leadership and industry experience. 'I believe that the list does reflect a strong group of individuals who will align competencies,' said Charles Baughman, a consultant with ITAC Solutions, which conducted the candidate search for the board. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX After the meeting, Ashmore said that 'as far as (he knows),' Sally Corley, chief operating officer of the board, was one of the three candidates selected to interview for the position. Corley has worked for the board since 2013 and was the board director of government affairs before becoming COO. 'With her 12 years of experience (with SEIB), she was one of the most qualified internal candidates we had,' Ashmore said after the meeting, adding that she expressed interest in the position. Corley would be the first woman to lead the board. Prior to Ashmore's tenure as CEO, which started in 1988, the board was under the Retirement Systems of Alabama and led by CEO David Bronner. Corley said in a text message that she applied for the position but still did not know if she was a finalist. The selection process will proceed as follows: Finalist information will be presented to the board chair for distribution to the full board, allowing members to review the materials and prepare questions. The executive committee will interview the candidates in an open meeting on June 16, using questions submitted in advance by the full board. At the end of the June 16 meeting, the executive committee will vote to select their preferred candidate and present that recommendation to the full board. The full board will convene on June 18 to hold a final vote on whether to accept or reject the executive committee's recommendation. Ashmore said during the meeting that his timeline for retirement is flexible to allow a smooth transition. A new hire could potentially start as soon as July 1, but the board agreed that an external candidate, especially one from out of state, may need at least a month after being hired. 'If the need is not there, then I'll go ahead and retire on July 1,' Ashmore said. SUPPORT: YOU MAKE OUR WORK POSSIBLE
Qatar Tribune
26-05-2025
- Business
- Qatar Tribune
QFC, Ashmore sign MoU to boost Qatar's asset management sector
Tribune News Network Doha Qatar Financial Centre (QFC), a leading onshore financial and business centre in the region, signs an MoU with the Ashmore Group, a globally recognised emerging markets asset manager that manages $46.2 billion, to support the expansion of Qatari capital markets. The partnership aims to strengthen Qatar's local asset management sector by fostering knowledge exchange and promoting the development of innovative investment solutions. A central element of the agreement is the commitment to nurturing local talent within the financial services industry, supporting Qatar's broader vision of building a diversified, knowledge-based economy. Commenting on the importance of the partnership, QFC Chief Executive Officer Yousuf Mohamed Al Jaida said, 'Ashmore Group's deep expertise in asset management, combined with the QFC's drive for financial innovation, makes this partnership a strong catalyst for long-term development. Through this collaboration, we aim to strengthen Qatar's asset management sector and elevate our capital markets by introducing global best practices and innovative investment solutions.' Ashmore Group Chief Executive Officer Mark Coombs said, 'Ashmore has a long history of investing in Qatar and is excited to partner with the QFC to deliver further development in Qatar's financial services industry over the coming years. We also look forward to helping raise the profile of Qatar as a destination for international investors, in line with the ambitions of the National Vision 2030.' This MoU builds on the recent milestone of QFC registering Ashmore Group under its platform and supporting the launch of its new office in Qatar. It also marks a significant step in expanding Ashmore's long-standing relationship with the country. The office will support local investment activity and deepen engagement with regional investors, further positioning Qatar as a growing hub for asset management.
Yahoo
05-05-2025
- Business
- Yahoo
Down 32%, this FTSE stock now has a 12% dividend yield!
With volatility returning to the stock market in 2025, dividend yields across FTSE stocks are on the rise. There's no denying that seeing double-digit declines in portfolio positions isn't fun. But for those keeping some dry powder on the side, these periods of decline can present lucrative income opportunities in the long run. One example of this could potentially be Ashmore Group (LSE:ASHM). The UK-based asset manager has had a bit of a rough ride lately, with its market-cap shrinking by almost a third in the last six months. But with dividends still flowing into shareholders' pockets, the yield now sits at a whopping 12% – the fourth largest in the entire FTSE 350. So is this a buying opportunity or a yield trap? Let's take a closer look. Ashmore shares have been on a downward trajectory since the 2020 pandemic. There are a variety of factors at play here. However, the prime catalyst behind this trend is the group's exposure to emerging markets. With all the geopolitical turmoil plaguing the world right now, including trade wars and military conflicts, investor appetite towards emerging economies has been pretty weak. At the same time, while the US dollar has recently weakened, its previously stronger position made investing in these countries less desirable. For Ashmore, these macroeconomic factors have created quite a few headaches. And it's culminated in a consistent stream of client fund outflows dragging the assets under management all the way, from $91.8bn in June 2019 to $46.2bn in March. Fiscal Year Ending June Net Outflows Driver 2020 $0.1bn Rising Covid-19 concerns. 2021 $1.2bn Continued Covid-19-related volatility in emerging markets driving up investment risk. 2022 $13.5bn A surge in outflows following the Russian invasion of Ukraine. 2023 $11.5bn Continued rise of geopolitical tensions in Ukraine and the Middle East. 2024 $8.5bn Persistent risk aversion to emerging markets due to ongoing conflicts. So far in 2025, the net outflow story of client funds hasn't really changed. The group's latest trading update revealed that a further $3.9bn walked out the door in the three months leading to March. However, while this does look bleak, its leadership remains optimistic. With US interest rate cuts steadily emerging, investor appetite for riskier emerging market investments is expected to improve. We've actually already started seeing some early signs of this, with net outflows decreasing since 2022 and the MSCI Emerging Market index rebounding in 2024. As such, despite the pressure on profits, dividends are still being paid. Is this sustainable? In the short term, Ashmore appears to have the financial flexibility to keep up with payouts. But over the medium to long term a restoration of assets under management will be crucial to avoid a dividend cut. And whether that happens ultimately depends on investor sentiment on emerging market investments, which is almost entirely out of management's control. Personally, I don't like investing in businesses that aren't in control of their own destiny. If everything works out, Ashmore could be a lucrative source of passive income. But even with a 12% dividend yield, the risk's simply too high right now, in my opinion. As such, it's staying on my watchlist until more recovery progress has been made. The post Down 32%, this FTSE stock now has a 12% dividend yield! appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool Zaven Boyrazian has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025
The Independent
14-04-2025
- Business
- The Independent
European shares rebound as markets ‘regain poise' after volatility
European stock markets rebounded on Monday with trading starting on steadier footing following a tumultuous week. UK and European stocks gained ground, while the US's top indexes were climbing higher in early trading. London's FTSE 100 rose 170.16 points, or 2.14%, to close at 8,134.34, recovering some of the losses made over recent days. Nevertheless, it remains considerably lower than it was before Donald Trump's tariff announcement earlier this month, which sparked a heavy sell-off in stock markets around the world. Europe's biggest indexes also leapt higher after dipping at the end of last week, following a sharp improvement on Thursday. Germany's Dax index jumped 2.85%, while France's Cac 40 ended the day 2.37% higher. Top US indexes opened higher on Monday as a greater sense of calm swept the financial markets. The S&P 500 and Dow Jones were both up about 0.2% by the time European markets closed. Tom Stevenson, investment director for Fidelity International, said: 'After a rocky week, as investors struggled to price in changing trade and tariff policy, markets seem to have regained their poise. ' Shares pushed higher all around the world on Monday after scoring a technical bear market – a fall of more than 20% from the latest peak – at last week's low point. 'The pendulum swing of US policy was in full evidence last week. 'Shares soared on Wednesday after a 90-day postponement of swingeing trade tariffs suggested that Donald Trump remains focused on the market reaction to his radical bid to reshape the global trade landscape.' The pound was also strengthening against key currencies. Sterling was rising about 0.75% against the US dollar, at 1.318, and was up 0.4% against the euro, at 1.16. In company news, John Wood Group said it had received a fresh takeover bid from Dubai-based suitor Sidara, almost a year after talks collapsed. The new offer would value the company at around £242 million – significantly lower than the previous £1.56 billion takeover approach. Wood said it has continued to assess other potential refinancing options alongside holding talks with Sidara, but that its board members think the potential takeover offer is the 'better option'. Shares in the group closed 4.4% higher. Elsewhere, shares in Ashmore dropped after the fund manager reported its total assets under management dipped by around 5% over the latest quarter, compared with the previous three-month period. The company nonetheless said emerging markets had shown 'resilience' in the face of recent volatility, and that it benefited from higher subscriptions activity over the quarter. Shares in Ashmore closed 6.4% lower. The biggest risers on the FTSE 100 were Melrose Industries, up 22.4p to 427.4p, St James's Place, up 40.6p to 864p, Standard Chartered, up 46.4p to 989.4p, Barclays, up 12.45p to 270.4p, and Intermediate Capital, up 77p to 1,750p. The only stock to fall on the FTSE 100 was London Stock Exchange Group, down 90p to 11,075.
The Independent
14-04-2025
- Business
- The Independent
Ashmore hails ‘resilient' emerging markets despite recent volatility
Fund manager Ashmore has said emerging markets have shown 'resilience' in the face of recent volatility in the financial markets despite growing 'uncertainty'. Shares in the firm slid in early trading on Monday as the FTSE 250 firm also reported a flurry of withdraws from significant investors. The emerging markets specialist reported that total assets under management dipped by around 5% to 46.2 billion US dollars (£35 billion) over the three months to March 31, compared with the previous quarter. It came after net client outflows of 3.9 billion dollars (£3 billion) offset around 1.3 billion dollars (£1 billion) of increased investments. Ashmore said it benefited from higher subscriptions activity over the quarter, particularly from Asian institutions. However, this was outweighed by 'a small number of large institutional redemptions' towards the end of the quarter. The company, however, stressed that it was supported 'by economic resilience in emerging economies', positive developments in China's technology sector and the weak US dollar. The update comes amid a backdrop of recent turbulence in global financial markets after US President Donald Trump launched his fresh tariff regime, which prompted an escalating trade war with China. Ashmore boss Mark Coombs said the 'aggressive' tariffs and continued weakness in the dollar could support its activity in emerging markets. 'Since the quarter end, market volatility has heightened due to increased tariffs and changes to terms of global trade,' the chief executive said. 'While this creates uncertainty and a risk-off response from certain investors, it is notable that the diversity and resilience of emerging markets is reflected in performance of the main indices. 'This resilience demonstrates that there are increasingly powerful reasons for investors to rebalance their asset allocations away from the US capital markets, such as tighter fiscal policy and a smaller government in the US, the start of fiscal stimulus in Europe, higher rates in Japan and China's focus on boosting domestic demand. 'When combined with the impact of aggressive trade tariffs, these factors point to a weaker US dollar, which will be supportive for the performance of emerging markets.' Shares in the firm were 7.3% lower at 124p on Monday morning.
