# EDGAR Filing Document

**Accession Number:** 0001498498
**File Stem:** 0001145549-25-042006
**Filing Date:** 2025-6
**Character Count:** 22128
**Document Hash:** 96b86d4e37395d9c81b255cb88ef0588
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-042006.hdr.sgml**: 20250626

**ACCESSION NUMBER**: 0001145549-25-042006

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250626

**DATE AS OF CHANGE**: 20250626

**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:** 251075973

**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 Equity ex China Fund (Series ID: S000085149)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000250018 | Institutional Class | EMXIX           |
| C000250019 | Class A             | EMXAX           |
| C000250020 | Class C             | EMXCX           |

## 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 Equity ex China Fund

- **b. EDGAR series identifier (if any):** S000085149

- **c. LEI of Series:** 254900BVAO19EMRX7866

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

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

- **b. Date as of which information is reported:** 2025-04-30

**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:** $7249936.54

**Total Liabilities:** $37505.94

**Net Assets:** $7212430.60

**Cash Not Reported:** $259976.11

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000250018 | -1.65%               | -2.52%               | 3.01%                |
| Class ID C000250019 | -1.65%               | -2.62%               | 3.13%                |
| Class ID C000250020 | -1.76%               | -2.63%               | 3.03%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $15611.01                | $-130588.32                                |
| Month 2  | $-20312.10               | $-182719.89                                |
| Month 3  | $-117808.50              | $321835.75                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Axis Bank Ltd.                                      | Axis Bank Ltd. GDR EACH REPR 5 INR10 'REGS'                                   | CUSIP: 05462W109<br>LEI: 549300HVNWMJPOFVNI41 | Long             | EC               | CORP              | IN        |      3131 | NS      | $219819.79    | 3.05%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Gudeng Precision Industrial Co.                     | Gudeng Precision Industrial Co. TWD10                                         | CUSIP: Y2941Y106<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     10000 | NS      | $115233.85    | 1.60%             |  |  |  | No            |                  2 | On Loan: No      |
| SK Square Co Ltd                                    | SK Square Co Ltd KRW100                                                       | CUSIP: Y8T6X4107<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      2818 | NS      | $176745.13    | 2.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Rede D Or Sao Luiz SA                               | Rede D Or Sao Luiz SA COM NPV                                                 | CUSIP: P79942101<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     28700 | NS      | $161929.46    | 2.25%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Talabat Holding PLC                                 | Talabat Holding PLC AED0.04                                                   | CUSIP: M8765Z106<br>LEI: 529900MAA20AIKRXOA24 | Long             | EC               | CORP              | AE        |    340042 | NS      | $130675.34    | 1.81%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Grupo Aeroportuario Del Pacifico S.A.B. de C.V.     | Grupo Aeroportuario Del Pacifico S.A.B. de C.V. COM NPV SER'B'                | CUSIP: P4959P100<br>LEI: 4469000001BZ368XFI90 | Long             | EC               | CORP              | MX        |      8135 | NS      | $165168.23    | 2.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Eugene Technology                                   | Eugene Technology KRW500                                                      | CUSIP: Y2347W100<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      2063 | NS      | $49566.54     | 0.69%             |  |  |  | No            |                  2 | On Loan: No      |
| XP Inc.                                             | XP Inc. CL A                                                                  | CUSIP: G98239109<br>LEI: 5493008KDA8NBZRJST80 | Long             | EC               | CORP              | KY        |      7500 | NS      | $120750.00    | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Totvs SA                                            | Totvs SA COM NPV                                                              | CUSIP: P92184103<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     21200 | NS      | $140532.67    | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| PB Fintech Ltd.                                     | PB Fintech Ltd. INR2.00                                                       | CUSIP: Y67616287<br>LEI: 98450083AC6B01HF1F87 | Long             | EC               | CORP              | IN        |      5137 | NS      | $98883.12     | 1.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Boxer Retail Ltd.                                   | Boxer Retail Ltd. NPV                                                         | CUSIP: S12871109<br>LEI: N/A                  | Long             | EC               | CORP              | ZA        |     26390 | NS      | $98428.13     | 1.36%             |  |  |  | No            |                  2 | On Loan: No      |
| DB Insurance Co Ltd.                                | DB Insurance Co Ltd. KRW500                                                   | CUSIP: Y2096K109<br>LEI: 9884000ZF26VNJBWSJ91 | Long             | EC               | CORP              | KR        |      1923 | NS      | $123539.12    | 1.71%             |  |  |  | No            |                  2 | On Loan: No      |
| MediaTek Inc.                                       | MediaTek Inc. TWD10                                                           | CUSIP: Y5945U103<br>LEI: 254900UEGBK1I4DM4E14 | Long             | EC               | CORP              | TW        |      4000 | NS      | $169503.91    | 2.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank Mandiri (Persero) Tbk PT                       | Bank Mandiri (Persero) Tbk PT IDR125                                          | CUSIP: Y7123S108<br>LEI: 549300RSKQN4Z5ZSGH94 | Long             | EC               | CORP              | ID        |    763300 | NS      | $225623.77    | 3.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Cipla Ltd.                                          | Cipla Ltd. INR2                                                               | CUSIP: Y1633P142<br>LEI: 335800KMJJYEDDK82Q34 | Long             | EC               | CORP              | IN        |      6380 | NS      | $117308.98    | 1.63%             |  |  |  | No            |                  2 | On Loan: No      |
| E Ink Holdings Inc.                                 | E Ink Holdings Inc. TWD10                                                     | CUSIP: Y2266Z100<br>LEI: 529900UOR451FJJYL571 | Long             | EC               | CORP              | TW        |     32000 | NS      | $223104.43    | 3.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Kinik Co                                            | Kinik Co TWD10                                                                | CUSIP: Y4789C113<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     10000 | NS      | $76448.10     | 1.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Hansol Chemical Co Ltd                              | Hansol Chemical Co Ltd KRW5000                                                | CUSIP: Y3064E109<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      1495 | NS      | $122000.46    | 1.69%             |  |  |  | No            |                  2 | On Loan: No      |
| Grupo Aeroportuario del Centro Norte S.A.B. de C.V. | Grupo Aeroportuario del Centro Norte S.A.B. de C.V. SPON ADR EA REP 8 SER 'B' | CUSIP: 400501102<br>LEI: 529900HUSBARAFSXJ605 | Long             | EC               | CORP              | MX        |       800 | NS      | $71176.00     | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Chroma Ate Inc                                      | Chroma Ate Inc TWD10                                                          | CUSIP: Y1604M102<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |      7000 | NS      | $64228.11     | 0.89%             |  |  |  | No            |                  2 | On Loan: No      |
| Delta Electronics Inc.                              | Delta Electronics Inc. TWD10                                                  | CUSIP: Y20263102<br>LEI: 529900UVZWNWGDLJSM52 | Long             | EC               | CORP              | TW        |      2931 | NS      | $30676.41     | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| Marico Ltd.                                         | Marico Ltd. INR1                                                              | CUSIP: Y5841R170<br>LEI: 3358003SFDQFGJPC5O84 | Long             | EC               | CORP              | IN        |      8218 | NS      | $69161.47     | 0.96%             |  |  |  | No            |                  2 | On Loan: No      |
| SK Hynix Inc.                                       | SK Hynix Inc. KRW5000                                                         | CUSIP: Y8085F100<br>LEI: 988400XAIK6XISWQV045 | Long             | EC               | CORP              | KR        |      1415 | NS      | $177803.97    | 2.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Mercadolibre Inc                                    | Mercadolibre Inc COM USD0.001                                                 | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |       100 | NS      | $233085.00    | 3.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co., Ltd.        | Taiwan Semiconductor Manufacturing Co., Ltd. TWD10                            | CUSIP: Y84629107<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |     34000 | NS      | $969209.76    | 13.44%            |  |  |  | No            |                  2 | On Loan: No      |
| Raia Drogasil SA                                    | Raia Drogasil SA COM NPV                                                      | CUSIP: P7942C102<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     25100 | NS      | $87748.17     | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| LPP SA                                              | LPP SA PLN2.00                                                                | CUSIP: X5053G103<br>LEI: 259400NUS7MKGPJL4752 | Long             | EC               | CORP              | PL        |        26 | NS      | $106905.11    | 1.48%             |  |  |  | No            |                  2 | On Loan: No      |
| MY Eg Services Bhd                                  | MY Eg Services Bhd NPV                                                        | CUSIP: Y6147P116<br>LEI: N/A                  | Long             | EC               | CORP              | MY        |    660200 | NS      | $137267.42    | 1.90%             |  |  |  | No            |                  2 | On Loan: No      |
| Wizz Air Holdings PLC                               | Wizz Air Holdings PLC ORD GBP0.0001                                           | CUSIP: G96871101<br>LEI: 213800COXGZCORLJZA85 | Long             | EC               | CORP              | JE        |      6389 | NS      | $140316.64    | 1.95%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Abu Dhabi Islamic Bank PJSC                         | Abu Dhabi Islamic Bank PJSC AED1                                              | CUSIP: M0152R102<br>LEI: 5493006DOLY8O98XHD74 | Long             | EC               | CORP              | AE        |     31202 | NS      | $155511.83    | 2.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Indian Energy Exchange Ltd                          | Indian Energy Exchange Ltd INR1(POST SUBDIVISION)                             | CUSIP: Y39237139<br>LEI: 335800JRG8ZOKN1KAE97 | Long             | EC               | CORP              | IN        |     17924 | NS      | $40441.48     | 0.56%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Komico Ltd                                          | Komico Ltd KRW500                                                             | CUSIP: Y4S17T102<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      1660 | NS      | $69405.78     | 0.96%             |  |  |  | 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        |     18300 | NS      | $157258.41    | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Fomento Economico Mexicano S A B de C V             | Fomento Economico Mexicano S A B de C V SPON ADR RP 10 UTS(1B&2D-B&           | CUSIP: 344419106<br>LEI: 549300A8MDWDJNMLV153 | Long             | EC               | CORP              | MX        |      1021 | NS      | $107521.51    | 1.49%             |  |  |  | No            |                  1 | 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        |      5256 | NS      | $382058.64    | 5.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Aldar Properties                                    | Aldar Properties AED1                                                         | CUSIP: M0517N101<br>LEI: 98450048CD8AEF13B480 | Long             | EC               | CORP              | AE        |     46507 | NS      | $104707.88    | 1.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Lojas Renner SA                                     | Lojas Renner SA COM NPV                                                       | CUSIP: P6332C102<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     38720 | NS      | $99680.04     | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Kaspi.Kz JSC                                        | Kaspi.Kz JSC SPONSORED ADS                                                    | CUSIP: 48581R205<br>LEI: 2549003YU6FARG8OAZ13 | Long             | EC               | CORP              | KZ        |      2619 | NS      | $230183.91    | 3.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Wal-Mart De Mexico                                  | Wal-Mart De Mexico COM NPV                                                    | CUSIP: P98180188<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |     27900 | NS      | $88421.25     | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| InterGlobe Aviation Ltd.                            | InterGlobe Aviation Ltd. INR10                                                | CUSIP: Y4R97L111<br>LEI: 33580079R8SLLO23XD19 | Long             | EC               | CORP              | IN        |      1414 | NS      | $87956.90     | 1.22%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Classys Inc                                         | Classys Inc KRW100                                                            | CUSIP: Y49932109<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      2576 | NS      | $116779.48    | 1.62%             |  |  |  | No            |                  2 | On Loan: No      |
| Grab Holdings Ltd.                                  | Grab Holdings Ltd. CLASS A ORD                                                | CUSIP: G4124C109<br>LEI: 549300N4VQX83VPJF439 | Long             | EC               | CORP              | KY        |     35500 | NS      | $173240.00    | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| International Gemmological Institute India Pvt Ltd. | International Gemmological Institute India Pvt Ltd. INR2                      | CUSIP: Y4R06E117<br>LEI: 254900EP4A4RLO5W8Y29 | Long             | EC               | CORP              | IN        |     21621 | NS      | $88943.31     | 1.23%             |  |  |  | No            |                  2 | On Loan: No      |
| United International Transportation Co              | United International Transportation Co SAR10                                  | CUSIP: M95429102<br>LEI: N/A                  | Long             | EC               | CORP              | SA        |      3407 | NS      | $67152.57     | 0.93%             |  |  |  | No            |                  2 | On Loan: No      |
| Lotes Co Ltd.                                       | Lotes Co Ltd. TWD10                                                           | CUSIP: Y53302116<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |      2000 | NS      | $78539.15     | 1.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Genomma Lab International S.A.B. de C.V.            | Genomma Lab International S.A.B. de C.V. SER'B' MXN3.722                      | CUSIP: P48318102<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |     55400 | NS      | $65116.65     | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Apollo Hospitals Enterprise Ltd.                    | Apollo Hospitals Enterprise Ltd. INR5                                         | CUSIP: Y0187F112<br>LEI: 3358005YT7JQCWYLTG43 | Long             | EC               | CORP              | IN        |      2323 | NS      | $191925.92    | 2.66%             |  |  |  | No            |                  2 | On Loan: No      |
| Alchip Technologies Ltd.                            | Alchip Technologies Ltd. TWD10                                                | CUSIP: G02242108<br>LEI: 529900HKE9RIY07SLX84 | Long             | EC               | CORP              | KY        |       444 | NS      | $29650.53     | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-05-23

**Name of Applicant:** Ashmore Funds

**Signature:** Taurai Sigauke

**Name of Signer:** Taurai Sigauke

**Title:** Treasurer