Source: Sharecast
Emerging markets asset manager Ashmore jumped to the top of the FTSE 250 on Monday due to its exposure to Venezuelan debt, after the US capture over the weekend of leader Nicolas Maduro.
In the November 2025 update on its SICAV Emerging Markets Sovereign Debt Fund, Ashmore cited Venezuela as its biggest country exposure, at 7.1% of the fund.
Bonds in Venezuela’s state-owned oil company, Petroleos De Venezuela, were cited at the top of its top 10 holding exposure, at 3.4% of the fund.
At 1240 GMT, the shares were up 4% at 182p, having earlier risen to as high as 199.70p.
Panmure Liberum analyst Rae Maile said: "Exposure to Venezuela has in the past been used as a stick to beat Ashmore with, so it is fair to see the share price rally.
"Much more importantly it is a reminder of why active management is important in emerging markets."
Gold miners Hochschild and Endeavour racked up strong gains as gold and silver prices were boosted by a flight to safety.
Ithaca Energy and Energean were both lower as oil prices retreated in response to the events in Venezuela.
Market Movers
FTSE 250 - Risers
Ceres Power Holdings (CWR) 237.60p 10.53%
Ashmore Group (ASHM) 186.10p 6.23%
Hochschild Mining (HOC) 517.00p 5.80%
Trustpilot Group (TRST) 166.60p 5.78%
Endeavour Mining (EDV) 3,850.00p 5.59%
Johnson Matthey (JMAT) 2,304.00p 5.31%
Shawbrook Group (SHAW) 510.50p 4.39%
BlackRock World Mining Trust (BRWM) 868.00p 3.95%
Partners Group Private Equity Limited. (EUR) (PEY) 10.80p 3.35%
Chemring Group (CHG) 489.00p 3.17%
FTSE 250 - Fallers
Raspberry PI Holdings (RPI) 283.10p -5.43%
Ithaca Energy (ITH) 154.60p -4.93%
Diversified Energy Company (DI) (DEC) 1,030.00p -4.21%
WH Smith (SMWH) 620.00p -3.13%
Ibstock (IBST) 136.80p -2.98%
Lion Finance Group (BGEO) 8,965.00p -2.77%
Energean (ENOG) 883.50p -2.59%
Gamma Communications (GAMA) 886.00p -2.53%
THG (THG) 45.24p -2.47%
B&M European Value Retail S.A. (DI) (BME) 162.30p -1.82%