Emerging-Markets Investor Ashmore Exited Bet on China Evergrande.

Ashmore Group Plc, an emerging markets-focused asset manager, has fully divested its investment in China Evergrande Group's offshore debt. The decision to sell its holdings came after Evergrande's restructuring plan was delayed and its chairman was detained. Ashmore had previously purchased Evergrande's dollar bonds when other investors were reducing their exposure. The price of Evergrande's bonds has since plummeted, and Ashmore's assets under management have declined due to outflows and poor performance. [Extracted from the article]