# EDGAR Filing Document

**Accession Number:** 0001498498
**File Stem:** 0002066578-25-001867
**Filing Date:** 2025-12
**Character Count:** 23580
**Document Hash:** 1f58e03ddd87f1b24cf273b3d8cde135
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002066578-25-001867.hdr.sgml**: 20251216

**ACCESSION NUMBER**: 0002066578-25-001867

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251216

**DATE AS OF CHANGE**: 20251216

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Ashmore Funds
- **CENTRAL INDEX KEY:** 0001498498

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22468
- **FILM NUMBER:** 251574140

**BUSINESS ADDRESS:**
- **STREET 1:** C/O ROPES & GRAY, LLP
- **STREET 2:** ONE INTERNATIONAL PLACE
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110
- **BUSINESS PHONE:** 617-951-7935

**MAIL ADDRESS:**
- **STREET 1:** C/O ROPES & GRAY, LLP
- **STREET 2:** ONE INTERNATIONAL PLACE
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110

## Series and Classes Contracts Data

### Ashmore Emerging Markets Active Equity Fund (Series ID: S000055437)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000174429 | CLASS A             | EMQAX           |
| C000174430 | CLASS C             | EMQCX           |
| C000174431 | INSTITUTIONAL CLASS | EMQIX           |
| C000183172 | Class T             | EMQTX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Ashmore Funds

- **b. Investment Company Act file number:** 811-22468

- **c. CIK number of Registrant:** 0001498498

- **d. LEI of Registrant:** 549300JIZK4U03Q64E73

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 61 Aldwych

  - **City:** London

  - **Zip / Postal Code:** WC2B 4AE

  - **Telephone number:** 011-44-20-3206-4500

**Item A.2. Information about the Series.**

- **a. Name of Series:** Ashmore Emerging Markets Active Equity Fund

- **b. EDGAR series identifier (if any):** S000055437

- **c. LEI of Series:** 549300OXHKIPZHSS1273

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-10-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $13900908.04

**Total Liabilities:** $54683.42

**Net Assets:** $13846224.62

**Cash Not Reported:** $215531.82

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000174429 | 1.89%                | 6.56%                | 2.67%                |
| Class ID C000174430 | 1.73%                | 6.46%                | 2.77%                |
| Class ID C000174431 | 1.87%                | 6.59%                | 2.74%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $143351.07               | $84518.23                                  |
| Month 2  | $154184.49               | $676129.43                                 |
| Month 3  | $321872.18               | $60686.10                                  |

### Schedule of Portfolio Investments

| Name                                                   | Title                                                             | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| YPF Sociedad Anonima                                   | YPF Sociedad Anonima SPON ADR(REP 1 CL'D'ARS10)                   | CUSIP: 984245100<br>LEI: 5493003N7447U18U5U53 | Long             | EC               | CORP              | AR        |      5087 | NS      | $185319.41    | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| National Bank of Kuwait S.A.K.P.                       | National Bank of Kuwait S.A.K.P. KWD0.1                           | CUSIP: M7103V108<br>LEI: 549300NB7FE83IH6BW96 | Long             | EC               | CORP              | KW        |     60237 | NS      | $206667.35    | 1.49%             |  |  |  | No            |                  2 | On Loan: No      |
| KB Financial Group Inc.                                | KB Financial Group Inc. KRW5000                                   | CUSIP: Y46007103<br>LEI: 529900TKE4MXG3Q6GW86 | Long             | EC               | CORP              | KR        |       784 | NS      | $63884.98     | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Aldar Properties PJSC                                  | Aldar Properties PJSC AED1                                        | CUSIP: M0517N101<br>LEI: 98450048CD8AEF13B480 | Long             | EC               | CORP              | AE        |     25905 | NS      | $63462.51     | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Southern Copper Corporation                            | Southern Copper Corporation COM USD0.01                           | CUSIP: 84265V105<br>LEI: 2549007U6NAP46Q9TU15 | Long             | EC               | CORP              | US        |      1559 | NS      | $216389.20    | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co Ltd.                            | Samsung Electronics Co Ltd. GDR EACH REP 25 COM STK KRW100(REG S) | CUSIP: 796050888<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |        21 | NS      | $39175.65     | 0.28%             |  |  |  | Yes           |                  2 | On Loan: No      |
| SK Telecom Co Ltd                                      | SK Telecom Co Ltd KRW100                                          | CUSIP: Y4935N104<br>LEI: 9884003WEA1PHW006037 | Long             | EC               | CORP              | KR        |      5294 | NS      | $194466.49    | 1.40%             |  |  |  | No            |                  2 | On Loan: No      |
| E Ink Holdings Inc.                                    | E Ink Holdings Inc. TWD10                                         | CUSIP: Y2266Z100<br>LEI: 529900UOR451FJJYL571 | Long             | EC               | CORP              | TW        |     18000 | NS      | $123660.57    | 0.89%             |  |  |  | No            |                  2 | On Loan: No      |
| Reliance Industries Ltd.                               | Reliance Industries Ltd. INR10(100%DEMAT)                         | CUSIP: Y72596102<br>LEI: 5493003UOETFYRONLG31 | Long             | EC               | CORP              | IN        |      8952 | NS      | $149535.47    | 1.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Geely Automobile Holdings Ltd                          | Geely Automobile Holdings Ltd HKD0.02                             | CUSIP: G3777B103<br>LEI: 549300YS3T1KVQ2SNI84 | Long             | EC               | CORP              | KY        |    105000 | NS      | $247674.57    | 1.79%             |  |  |  | No            |                  2 | On Loan: No      |
| Firstrand Ltd                                          | Firstrand Ltd ZAR0.01                                             | CUSIP: S5202Z131<br>LEI: 529900XYOP8CUZU7R671 | Long             | EC               | CORP              | ZA        |     56832 | NS      | $269641.39    | 1.95%             |  |  |  | No            |                  2 | On Loan: No      |
| Hyundai Glovis Co Ltd.                                 | Hyundai Glovis Co Ltd. KRW500                                     | CUSIP: Y27294100<br>LEI: 988400U6RDXNJ5ZRN304 | Long             | EC               | CORP              | KR        |      2117 | NS      | $279806.57    | 2.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Industrial & Commercial Bank of China Ltd.             | Industrial & Commercial Bank of China Ltd. 'H'CNY1                | CUSIP: Y3990B112<br>LEI: 5493002ERZU2K9PZDL40 | Long             | EC               | CORP              | CN        |    517000 | NS      | $400006.71    | 2.89%             |  |  |  | No            |                  2 | On Loan: No      |
| Delta Electronics Inc.                                 | Delta Electronics Inc. TWD10                                      | CUSIP: Y20263102<br>LEI: 529900UVZWNWGDLJSM52 | Long             | EC               | CORP              | TW        |      7100 | NS      | $227369.07    | 1.64%             |  |  |  | No            |                  2 | On Loan: No      |
| Reliance Industries Ltd.                               | Reliance Industries Ltd. GDR (REPR 2 ORD INR10 LEVEL1)(REG S-UP)  | CUSIP: 759470107<br>LEI: 5493003UOETFYRONLG31 | Long             | EC               | CORP              | IN        |      4359 | NS      | $288954.01    | 2.09%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Hon Hai Precision Industry Co Ltd.                     | Hon Hai Precision Industry Co Ltd. TWD10                          | CUSIP: Y36861105<br>LEI: 30030004CM3GSZXX7O56 | Long             | EC               | CORP              | TW        |     10000 | NS      | $83364.88     | 0.60%             |  |  |  | No            |                  2 | On Loan: No      |
| SK Hynix Inc.                                          | SK Hynix Inc. KRW5000                                             | CUSIP: Y8085F100<br>LEI: 988400XAIK6XISWQV045 | Long             | EC               | CORP              | KR        |       773 | NS      | $301989.04    | 2.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Chunghwa Telecom Co Ltd.                               | Chunghwa Telecom Co Ltd. ADR EA REPR 10 ORD TWD10                 | CUSIP: 17133Q502<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |      4180 | NS      | $177984.40    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Infosys Ltd.                                           | Infosys Ltd. SPON ADR EACH REP 1 ORD SHS                          | CUSIP: 456788108<br>LEI: 335800TYLGG93MM7PR89 | Long             | EC               | CORP              | IN        |     20265 | NS      | $335791.05    | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Contemporary Amperex Technology Co Ltd.                | Contemporary Amperex Technology Co Ltd. 'A' CNY1                  | CUSIP: Y1R48E105<br>LEI: 300300KINDY1K0E9I032 | Long             | EC               | CORP              | CN        |      2600 | NS      | $142954.36    | 1.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Alchip Technologies Ltd.                               | Alchip Technologies Ltd. TWD10                                    | CUSIP: G02242108<br>LEI: 529900HKE9RIY07SLX84 | Long             | EC               | CORP              | KY        |       900 | NS      | $101374.30    | 0.73%             |  |  |  | No            |                  2 | On Loan: No      |
| Grupo Financiero Banorte S.A.B. de C.V.                | Grupo Financiero Banorte S.A.B. de C.V. COM NPV SERIES O          | CUSIP: P49501201<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |     24600 | NS      | $231520.84    | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Vale S.A.                                              | Vale S.A. COM NPV                                                 | CUSIP: P9661Q155<br>LEI: 254900SMTWBX7RU2SR20 | Long             | EC               | CORP              | BR        |     12100 | NS      | $146775.71    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupo Financiero Galicia S.A.                          | Grupo Financiero Galicia S.A. SPON ADR EACH REP 10 CL B           | CUSIP: 399909100<br>LEI: 5299008H3AXIXV5G3C23 | Long             | EC               | CORP              | AR        |      3870 | NS      | $228833.10    | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Dr. Reddy's Laboratories Ltd.                          | Dr. Reddy's Laboratories Ltd. ADS EACH REPR 1 ORD INR5            | CUSIP: 256135203<br>LEI: 335800OVDPY3DVZR2798 | Long             | EC               | CORP              | IN        |      4702 | NS      | $62489.58     | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Mao Geping Cosmetics Co Ltd.                           | Mao Geping Cosmetics Co Ltd. CNY0.5 H                             | CUSIP: Y581B1107<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |     20600 | NS      | $237877.73    | 1.72%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Raia Drogasil SA                                       | Raia Drogasil SA COM NPV                                          | CUSIP: P7942C102<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     24500 | NS      | $91078.91     | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Maruti Suzuki India Ltd.                               | Maruti Suzuki India Ltd. INR5                                     | CUSIP: Y7565Y100<br>LEI: 335800D27PBEESKKD357 | Long             | EC               | CORP              | IN        |      2179 | NS      | $396681.99    | 2.86%             |  |  |  | No            |                  2 | On Loan: No      |
| AL Rajhi Bank                                          | AL Rajhi Bank SAR10                                               | CUSIP: M0R60D105<br>LEI: 558600BQZS4Y1DTU8589 | Long             | EC               | CORP              | SA        |      2400 | NS      | $67728.77     | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| Saudi National Bank (the)                              | Saudi National Bank (the) SAR10                                   | CUSIP: M7S2CL107<br>LEI: 5586006ZEFQ542K7CY16 | Long             | EC               | CORP              | SA        |      6146 | NS      | $65388.11     | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung Biologics Co Ltd                               | Samsung Biologics Co Ltd KRW2500                                  | CUSIP: Y7T7DY103<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |       349 | NS      | $299920.34    | 2.17%             |  |  |  | No            |                  3 | On Loan: No      |
| Dr Sulaiman Al Habib For Medical Service Group Company | Dr Sulaiman Al Habib For Medical Service Group Company SAR10      | CUSIP: M28438105<br>LEI: N/A                  | Long             | EC               | CORP              | SA        |       882 | NS      | $63919.40     | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Tencent Holdings Ltd.                                  | Tencent Holdings Ltd. HKD0.00002                                  | CUSIP: G87572163<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | KY        |     13400 | NS      | $1089219.11   | 7.87%             |  |  |  | No            |                  2 | On Loan: No      |
| HDFC Bank Ltd.                                         | HDFC Bank Ltd. SPON ADS EACH REP 3 ORD SHS                        | CUSIP: 40415F101<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |     15567 | NS      | $563836.74    | 4.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Xiaomi Corp.                                           | Xiaomi Corp. USD0.0000025 B CLASS                                 | CUSIP: G9830T106<br>LEI: 2549001ACVFAZRNMKL32 | Long             | EC               | CORP              | KY        |     45800 | NS      | $254065.28    | 1.83%             |  |  |  | Yes           |                  2 | On Loan: No      |
| PDD Holdings Inc.                                      | PDD Holdings Inc. SPON ADS EACH REP 4 ORD SHS                     | CUSIP: 722304102<br>LEI: 5493000573DS7005T657 | Long             | EC               | CORP              | KY        |      3079 | NS      | $415264.73    | 3.00%             |  |  |  | No            |                  1 | On Loan: No      |
| XP Inc.                                                | XP Inc. CL A                                                      | CUSIP: G98239109<br>LEI: 5493008KDA8NBZRJST80 | Long             | EC               | CORP              | KY        |     11600 | NS      | $211352.00    | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Pop Mart International Group Limited                   | Pop Mart International Group Limited USD0.0001                    | CUSIP: G7170M103<br>LEI: 9845000A05E8F937E337 | Long             | EC               | CORP              | KY        |      2200 | NS      | $62786.56     | 0.45%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Samsung Electronics Co Ltd.                            | Samsung Electronics Co Ltd. KRW100                                | CUSIP: Y74718100<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |      7212 | NS      | $542929.91    | 3.92%             |  |  |  | No            |                  2 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co., Ltd.           | Taiwan Semiconductor Manufacturing Co., Ltd. TWD10                | CUSIP: Y84629107<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |     30951 | NS      | $1497557.81   | 10.82%            |  |  |  | No            |                  2 | On Loan: No      |
| United Microelectronics Corp.                          | United Microelectronics Corp. SPON ADS REP 5 ORD TWD10            | CUSIP: 910873405<br>LEI: 391200YJCAGH9LF96P73 | Long             | EC               | CORP              | TW        |     36140 | NS      | $278639.40    | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Pharmaceutical Industries Ltd.                     | Sun Pharmaceutical Industries Ltd. INR1(DEMAT)                    | CUSIP: Y8523Y158<br>LEI: 335800KJ7GE29LB4SS73 | Long             | EC               | CORP              | IN        |     21280 | NS      | $404476.94    | 2.92%             |  |  |  | No            |                  2 | On Loan: No      |
| China International Capital Corp Ltd.                  | China International Capital Corp Ltd. CNY1 H                      | CUSIP: Y1R99Y109<br>LEI: 529900OS3SVVTT56QN67 | Long             | EC               | CORP              | CN        |     25600 | NS      | $69389.16     | 0.50%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Sunresin New Materials Co. Ltd.,Xi'an                  | Sunresin New Materials Co. Ltd.,Xi'an CNY1 A                      | CUSIP: Y8240K101<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |     18800 | NS      | $146343.79    | 1.06%             |  |  |  | No            |                  2 | On Loan: No      |
| NetEase Inc.                                           | NetEase Inc. USD0.0001                                            | CUSIP: G6427A102<br>LEI: 5299004AF4DSJDB0PA32 | Long             | EC               | CORP              | KY        |      8900 | NS      | $249046.00    | 1.80%             |  |  |  | No            |                  2 | On Loan: No      |
| Grab Holdings Ltd.                                     | Grab Holdings Ltd. CLASS A ORD                                    | CUSIP: G4124C109<br>LEI: 549300N4VQX83VPJF439 | Long             | EC               | CORP              | KY        |     38700 | NS      | $232587.00    | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank Central Asia Tbk PT                               | Bank Central Asia Tbk PT IDR12.50                                 | CUSIP: Y7123P138<br>LEI: 254900BR956G2OHVOM21 | Long             | EC               | CORP              | ID        |    126600 | NS      | $64642.20     | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Shenzhen Mindray Bio-Medical Electronics Co Ltd.       | Shenzhen Mindray Bio-Medical Electronics Co Ltd. A CNY1           | CUSIP: Y774E3101<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |      4460 | NS      | $134919.91    | 0.97%             |  |  |  | No            |                  2 | On Loan: No      |
| Alibaba Group Holding Ltd.                             | Alibaba Group Holding Ltd. USD0.000003125                         | CUSIP: G01719114<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | KY        |     30200 | NS      | $641649.58    | 4.63%             |  |  |  | No            |                  2 | On Loan: No      |
| FSN E-Commerce Ventures Ltd.                           | FSN E-Commerce Ventures Ltd. INR1                                 | CUSIP: Y2R5BZ117<br>LEI: 335800X5BJYC18NHDQ91 | Long             | EC               | CORP              | IN        |    103624 | NS      | $289150.25    | 2.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Clicks Group Ltd.                                      | Clicks Group Ltd. ZAR0.01                                         | CUSIP: S17249111<br>LEI: 378900E967958A677472 | Long             | EC               | CORP              | ZA        |      6583 | NS      | $138463.84    | 1.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung C&T Corporation                                | Samsung C&T Corporation KRW100                                    | CUSIP: Y7T71K106<br>LEI: 988400GFRE4IDFPE9E64 | Long             | EC               | CORP              | KR        |      1828 | NS      | $289215.12    | 2.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Trip.com Group Ltd.                                    | Trip.com Group Ltd. USD0.00125                                    | CUSIP: G9066F101<br>LEI: 2549004RMYDSRQL4KW41 | Long             | EC               | CORP              | KY        |       900 | NS      | $63288.07     | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-25

**Name of Applicant:** Ashmore Funds

**Signature:** Taurai Sigauke

**Name of Signer:** Taurai Sigauke

**Title:** Treasurer