Investors are starting to warm to emerging markets again, if the latest trading update from specialist manager Ashmore Group is anything to go by. The firm, which has long been a bellwether for the sector, has reported reduced outflows and a growth in assets under management for the second quarter in a row.

Ashmore's assets rose 3% to $52.6 billion in the three months to June 30 as investment returns of $2 billion outweighed net outflows of $0.7 billion, according to the firm's fiscal fourth-quarter trading update published on July 14.