Fears a trade spat between the United States and China could escalate plus economic problems in Turkey and Argentina have pushed a broad gauge of emerging market stocks <.MSCIEF> to a 14-month low.

Weakening market sentiment has yet to translate to outflows, however, and Ashmore said the trend established in its fourth quarter has since continued, as it reported full-year results that beat some expectations.

"There's no real sign of panic... People are looking to take advantage of price weakness rather than take money off the table," Chief Financial Officer Tom Shippey told Reuters.

"We've continued to see fairly good levels of client activity over July and August, which typically we would expect to be quieter."

Assets as of the end of June were a previously reported $73.9 billion, up 26 percent on the year.

Revenues over the year rose 7 percent as record inflows of new client cash boosted management fees, although this was offset by a dip in performance fee income and currency losses as sterling strengthened against the dollar.

Pretax profits were slightly lower year on year at 191.3 million pounds, hampered by foreign exchange moves and lower profit from new funds it had seeded with its own money, although analysts said the results beat expectations.

"Management fees were closely in line with expectations after a year of record inflows, but total revenue was slightly ahead, with performance fees 1.9 million pounds above consensus and our estimates," Jefferies analyst Phil Dobbin said in a note.

"This slight beat was maintained almost throughout the P&L," he added, flagging a 'hold' rating and 375 pence price target.

At 0755 GMT, shares in Ashmore were up 1.6 percent at 350.8 pence, among the top gainers on the FTSE mid-cap index <.FTMC>.

(Reporting by Simon Jessop; Editing by Maiya Keidan/Keith Weir)

By Simon Jessop