Emerging-market specialist Ashmore Group benefited from “strong returns” to bring an end to six consecutive quarters of shrinking assets under management in the first three months of 2016, amid growing evidence that the worst may be over for the troubled sector.

Ashmore's assets rose 4% to $51.3 billion in the three months to March 31 after positive investment returns of $3 billion prevailed over net outflows of $1.1 billion, according to Ashmore's fiscal third-quarter trading statement published on April 19.