Ashmore Group Plc

Ashmore Colombia, a subsidiary of the UK-based Ashmore Group, and its shareholder Patria Investments have agreed to sell the Parque Solar Puerta de Oro solar photovoltaic project in Colombia to energy company ISAGEN, with financial terms undisclosed and completion still subject to regulatory approval. The project, located in Guaduas, Cundinamarca, has an installed capacity of 360MW-peak and 300MW-alternating current, and is said to be the largest solar PV plant in the country. The fully operational facility supplies electricity to more than 390,000 homes in Colombia and consists of around 511,000 PV modules across 530 hectares, connected to the National Interconnected System through a 22.4km, 230kV transmission line. The project aims to cut Colombia's carbon emissions by approximately 370,000t of carbon dioxide per year, supporting efforts to diversify the national energy mix with renewable sources. Ashmore Colombia CEO Juan Pablo Fonseca led the sale process, supported by the portfolio management and investment teams, and said the deal confirms the merit of the firm's infrastructure investment approach in the country.

Ashmore Group reported assets under management of $54 billion for fiscal 2026, up 13%, driven by $3.7 billion of positive investment performance and $2.7 billion of net inflows. Subscriptions nearly doubled year on year to $12.5 billion, with roughly a 20% increase in the second half, while redemptions fell 20% year on year, the fourth consecutive year of reducing outflows. Profit before tax rose 17% to GBP126.9 million and diluted EPS climbed 28% to just over 15p per share, though adjusted net revenue fell 7% year on year on a weaker US dollar and lower performance fees, and the operating margin compressed to 26% from 37%, with the underlying margin excluding seed capital improving to 40%. The full-year dividend was maintained at 16.9p per share, including a final dividend of 12.1p, and the firm guided to performance fees of no more than GBP5 million for fiscal 2027. On the call, Group Finance Director Tom Shippey said Japan Post committed an incremental $1 billion over 12 months, with just under one-third invested by June, and CEO Mark Coombs said the balance sheet will be the main driver of the alternatives build-out, focused on emerging market infrastructure.