# EDGAR Filing Document

**Accession Number:** 0001498498
**File Stem:** 0001145549-25-042011
**Filing Date:** 2025-6
**Character Count:** 24944
**Document Hash:** 85956d1838975847fb3ec9a6f88bd18d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-042011.hdr.sgml**: 20250626

**ACCESSION NUMBER**: 0001145549-25-042011

**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:** 251075981

**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 Frontier Equity Fund (Series ID: S000041978)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000130348 | Class A             | EFEAX           |
| C000130349 | Class C             | EFECX           |
| C000130350 | Institutional Class | EFEIX           |
| C000183169 | Class T             | EFETX           |

## 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 Frontier Equity Fund

- **b. EDGAR series identifier (if any):** S000041978

- **c. LEI of Series:** 5493004FM1DCWJL13M78

**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:** $91374822.13

**Total Liabilities:** $195671.72

**Net Assets:** $91179150.41

**Cash Not Reported:** $3708670.19

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000130348 | 0.28%                | 0.40%                | 0.09%                |
| Class ID C000130349 | 0.19%                | 0.39%                | 0.00%                |
| Class ID C000130350 | 0.24%                | 0.48%                | 0.08%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $529095.33               | $-507239.79                                |
| Month 2  | $-291218.23              | $454657.09                                 |
| Month 3  | $1238477.90              | $-1882051.22                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Alkhorayef Water & Power Technologies Co                 | Alkhorayef Water & Power Technologies Co SAR10                                    | CUSIP: M0852G109<br>LEI: N/A                  | Long             | EC               | CORP              | SA        |     12378 | NS      | $535537.19    | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| Phunhuan Jewelry JSC                                     | Phunhuan Jewelry JSC VND10000                                                     | CUSIP: Y6891A109<br>LEI: N/A                  | Long             | EC               | CORP              | VN        |    250266 | NS      | $685778.28    | 0.75%             |  |  |  | No            |                  2 | On Loan: No      |
| Kaspi.Kz JSC                                             | Kaspi.Kz JSC SPONSORED ADS                                                        | CUSIP: 48581R205<br>LEI: 2549003YU6FARG8OAZ13 | Long             | EC               | CORP              | KZ        |     59598 | NS      | $5238068.22   | 5.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Adnoc Gas                                                | Adnoc Gas USD0.250                                                                | CUSIP: M0R823101<br>LEI: 254900O5NS03BDOOM362 | Long             | EC               | CORP              | AE        |   1104648 | NS      | $953994.59    | 1.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Nam Long Investment Corporation                          | Nam Long Investment Corporation VND10000                                          | CUSIP: Y618A5109<br>LEI: N/A                  | Long             | EC               | CORP              | VN        |    853200 | NS      | $906534.80    | 0.99%             |  |  |  | No            |                  2 | On Loan: No      |
| Arion Banki HF                                           | Arion Banki HF ISK1                                                               | CUSIP: X02228108<br>LEI: RIL4VBPDB0M7Z3KXSF19 | Long             | EC               | CORP              | IS        |   1208273 | NS      | $1453174.60   | 1.59%             |  |  |  | Yes           |                  2 | 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        |     13563 | NS      | $1036755.24   | 1.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Asia Commercial Bk                                       | Asia Commercial Bk VND10000                                                       | CUSIP: Y0324N101<br>LEI: 5493001VSLUXY7LJS086 | Long             | EC               | CORP              | VN        |    995245 | NS      | $922318.85    | 1.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Systems Limited                                          | Systems Limited PKR10                                                             | CUSIP: Y83476104<br>LEI: N/A                  | Long             | EC               | CORP              | PK        |    721956 | NS      | $1352943.57   | 1.48%             |  |  |  | No            |                  2 | On Loan: No      |
| Helios Towers PLC                                        | Helios Towers PLC ORD GBP0.01                                                     | CUSIP: G4431S102<br>LEI: 213800DGC7GS4XCHCU30 | Long             | EC               | CORP              | GB        |    376191 | NS      | $538262.24    | 0.59%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Adnoc Drilling Company PJSC                              | Adnoc Drilling Company PJSC AED0.1                                                | CUSIP: M0R81X106<br>LEI: 254900JPRSQL1PM0JV19 | Long             | EC               | CORP              | AE        |    913674 | NS      | $1220564.46   | 1.34%             |  |  |  | No            |                  2 | On Loan: No      |
| GT Capital Holdings Inc                                  | GT Capital Holdings Inc PHP10                                                     | CUSIP: Y29045104<br>LEI: 254900P0ZPSRAHUO2131 | Long             | EC               | CORP              | PH        |     53320 | NS      | $467599.46    | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| Halyk Savings Bank Of Kazakhstan JSC Almaty              | Halyk Savings Bank Of Kazakhstan JSC Almaty GDR EACH REPR 40 ORD SHS'REGS' (SPON) | CUSIP: 46627J302<br>LEI: 213800NYDTVQM4SDUD67 | Long             | EC               | CORP              | KZ        |    113443 | NS      | $2753032.21   | 3.02%             |  |  |  | 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        |    486236 | NS      | $2423416.78   | 2.66%             |  |  |  | No            |                  2 | On Loan: No      |
| Vietnam Prosperity Jsc Bank                              | Vietnam Prosperity Jsc Bank VND10000                                              | CUSIP: Y9369Z101<br>LEI: 254900A0PM1YPJVDW880 | Long             | EC               | CORP              | VN        |   1385800 | NS      | $884216.40    | 0.97%             |  |  |  | No            |                  2 | On Loan: No      |
| Attijariwafa Bank                                        | Attijariwafa Bank MAD10                                                           | CUSIP: V0378K154<br>LEI: 213800NKX83414QQZ664 | Long             | EC               | CORP              | MA        |     43093 | NS      | $3081073.23   | 3.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Qatar National Bank QPSC                                 | Qatar National Bank QPSC QAR1                                                     | CUSIP: M81802106<br>LEI: 549300FFSRVBS0SQXY75 | Long             | EC               | CORP              | QA        |    727590 | NS      | $3338770.63   | 3.66%             |  |  |  | No            |                  2 | On Loan: No      |
| HOA Phat Group Jsc                                       | HOA Phat Group Jsc VND10000                                                       | CUSIP: Y3231H100<br>LEI: 549300ODJEFGL5CWKD32 | Long             | EC               | CORP              | VN        |   2286700 | NS      | $2247078.84   | 2.46%             |  |  |  | No            |                  2 | On Loan: No      |
| BDO Unibank Inc.                                         | BDO Unibank Inc. PHP10                                                            | CUSIP: Y07775102<br>LEI: 3FGIIBS1PEI1FYQBGN97 | Long             | EC               | CORP              | PH        |   1009702 | NS      | $2881190.81   | 3.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Globant S.A                                              | Globant S.A USD1.20                                                               | CUSIP: L44385109<br>LEI: 2221008DCMSPYS42DS88 | Long             | EC               | CORP              | LU        |      8750 | NS      | $1028737.50   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Credicorp Ltd.                                           | Credicorp Ltd. COM USD5                                                           | CUSIP: G2519Y108<br>LEI: 529900UYAEYQCQ2BKB17 | Long             | EC               | CORP              | BM        |      6553 | NS      | $1324951.07   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Cameco Corporation                                       | Cameco Corporation COM NPV                                                        | CUSIP: 13321L108<br>LEI: N4BHALMXL3GMZKCUON55 | Long             | EC               | CORP              | CA        |     23600 | NS      | $1065540.00   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Qatar Gas Transport Co. (Nakilat)                        | Qatar Gas Transport Co. (Nakilat) QAR1                                            | CUSIP: M8178L108<br>LEI: N/A                  | Long             | EC               | CORP              | QA        |    814883 | NS      | $1024974.28   | 1.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Joint Stock Commercial Bank For Foreign Trade Of Vietnam | Joint Stock Commercial Bank For Foreign Trade Of Vietnam VND10000                 | CUSIP: Y444A7106<br>LEI: 2549004TS5QUBFGAWE51 | Long             | EC               | CORP              | VN        |    703884 | NS      | $1553568.69   | 1.70%             |  |  |  | No            |                  2 | 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        |   1353260 | NS      | $4224382.94   | 4.63%             |  |  |  | No            |                  2 | On Loan: No      |
| Gulf Bnk Of Kuwait                                       | Gulf Bnk Of Kuwait KWD0.1                                                         | CUSIP: M5246Y104<br>LEI: 254900600P224MZQZD69 | Long             | EC               | CORP              | KW        |   2409788 | NS      | $2642813.54   | 2.90%             |  |  |  | No            |                  2 | On Loan: No      |
| Aldar Properties                                         | Aldar Properties AED1                                                             | CUSIP: M0517N101<br>LEI: 98450048CD8AEF13B480 | Long             | EC               | CORP              | AE        |    821008 | NS      | $1848453.05   | 2.03%             |  |  |  | No            |                  2 | On Loan: No      |
| HudBay Minerals Inc                                      | HudBay Minerals Inc COM NPV                                                       | CUSIP: 443628102<br>LEI: 549300WI524AL577IX21 | Long             | EC               | CORP              | CA        |    104400 | NS      | $759561.87    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Mcb Group Limited                                        | Mcb Group Limited NPV                                                             | CUSIP: V58013109<br>LEI: 13250000000000000107 | Long             | EC               | CORP              | MU        |    125285 | NS      | $1250833.02   | 1.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Century Pacific Food Inc                                 | Century Pacific Food Inc PHP1                                                     | CUSIP: Y1249R102<br>LEI: 254900NFV7QTJB821G52 | Long             | EC               | CORP              | PH        |    838800 | NS      | $577079.32    | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| VinaCapital Vietnam Opportunity Fund Ltd.                | VinaCapital Vietnam Opportunity Fund Ltd. ORD USD0.01                             | CUSIP: G9361B102<br>LEI: 2138007UD8FBBVAX9469 | Long             | EC               | RF                | GG        |    122997 | NS      | $644673.57    | 0.71%             |  |  |  | No            |                  2 | On Loan: No      |
| Vietnam Enterprise Investments Ltd                       | Vietnam Enterprise Investments Ltd ORD USD0.01(DI)                                | CUSIP: G9361H109<br>LEI: 213800SYT3T4AGEVW864 | Long             | EC               | CORP              | KY        |    118054 | NS      | $817448.76    | 0.90%             |  |  |  | No            |                  2 | On Loan: No      |
| Nova Ljubljanska Bank DD                                 | Nova Ljubljanska Bank DD 5 GDR EACH REPR 1 ORD SHS SPON REG S                     | CUSIP: 66980N203<br>LEI: 5493001BABFV7P27OW30 | Long             | EC               | CORP              | SI        |     81445 | NS      | $2408998.36   | 2.64%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Akdital S.A                                              | Akdital S.A MAD10                                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MA        |     15318 | NS      | $2415507.23   | 2.65%             |  |  |  | No            |                  2 | On Loan: No      |
| Banca Transilvania SA                                    | Banca Transilvania SA RON10                                                       | CUSIP: X0308Q105<br>LEI: 549300RG3H390KEL8896 | Long             | EC               | CORP              | RO        |    659047 | NS      | $4250684.53   | 4.66%             |  |  |  | No            |                  2 | On Loan: No      |
| OMV Petrom SA                                            | OMV Petrom SA RON0.1                                                              | CUSIP: X6000W100<br>LEI: 549300UKYDM6L8HEPU79 | Long             | EC               | CORP              | RO        |  11834261 | NS      | $1928077.56   | 2.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Mobile World Investment Corporation                      | Mobile World Investment Corporation VND10000                                      | CUSIP: Y604K2105<br>LEI: 254900ZRFNB8CRAHHO95 | Long             | EC               | CORP              | VN        |    457700 | NS      | $1073328.01   | 1.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Ayala Land Inc.                                          | Ayala Land Inc. PHP1                                                              | CUSIP: Y0488F100<br>LEI: 254900EWT10TQ6DKTV34 | Long             | EC               | CORP              | PH        |   2090300 | NS      | $932539.79    | 1.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Vietnam Dairy Products JSC                               | Vietnam Dairy Products JSC VND10000                                               | CUSIP: Y9365V104<br>LEI: 549300148GRJ07D21X63 | Long             | EC               | CORP              | VN        |    549500 | NS      | $1219622.18   | 1.34%             |  |  |  | No            |                  2 | On Loan: No      |
| NagaCorp Ltd.                                            | NagaCorp Ltd. HKD0.0125                                                           | CUSIP: G6382M109<br>LEI: 549300MMNKN0RBJELS20 | Long             | EC               | CORP              | KY        |   3411263 | NS      | $1454470.33   | 1.60%             |  |  |  | No            |                  2 | On Loan: No      |
| International Container Terminal Services Inc.           | International Container Terminal Services Inc. PHP1                               | CUSIP: Y41157101<br>LEI: 254900FU1MWK0I0Q4J61 | Long             | EC               | CORP              | PH        |    149270 | NS      | $916892.74    | 1.01%             |  |  |  | No            |                  2 | On Loan: No      |
| SM Prime Holdings Inc.                                   | SM Prime Holdings Inc. ORD PHP1                                                   | CUSIP: Y8076N112<br>LEI: 254900SZK83MIAB8CU32 | Long             | EC               | CORP              | PH        |   2061500 | NS      | $899370.15    | 0.99%             |  |  |  | No            |                  2 | On Loan: No      |
| The Searle Company Limited                               | The Searle Company Limited PKR10                                                  | CUSIP: Y7561Y104<br>LEI: N/A                  | Long             | EC               | CORP              | PK        |   3484966 | NS      | $1017951.85   | 1.12%             |  |  |  | No            |                  2 | On Loan: No      |
| FPT Digital Retail Joint Stock Company                   | FPT Digital Retail Joint Stock Company NPV                                        | CUSIP: Y26334105<br>LEI: N/A                  | Long             | EC               | CORP              | VN        |    139700 | NS      | $903575.26    | 0.99%             |  |  |  | No            |                  2 | On Loan: No      |
| FPT Corp.                                                | FPT Corp. VND10000                                                                | CUSIP: Y26333107<br>LEI: N/A                  | Long             | EC               | CORP              | VN        |    850125 | NS      | $3586612.25   | 3.93%             |  |  |  | No            |                  2 | On Loan: No      |
| Doha Bank Ltd                                            | Doha Bank Ltd QAR1.00                                                             | CUSIP: M28186100<br>LEI: 549300O5KAG21BMZ8N83 | Long             | EC               | CORP              | QA        |   4795555 | NS      | $3106320.36   | 3.41%             |  |  |  | No            |                  2 | On Loan: No      |
| United International Transportation Co                   | United International Transportation Co SAR10                                      | CUSIP: M95429102<br>LEI: N/A                  | Long             | EC               | CORP              | SA        |     34359 | NS      | $677221.90    | 0.74%             |  |  |  | No            |                  2 | On Loan: No      |
| AL Rajhi Banking & Investment Corp                       | AL Rajhi Banking & Investment Corp SAR10                                          | CUSIP: M0R60D105<br>LEI: 558600BQZS4Y1DTU8589 | Long             | EC               | CORP              | SA        |     42821 | NS      | $1119417.89   | 1.23%             |  |  |  | No            |                  2 | On Loan: No      |
| AL Babtain Power                                         | AL Babtain Power SAR10                                                            | CUSIP: M0R187101<br>LEI: N/A                  | Long             | EC               | CORP              | SA        |     59110 | NS      | $749766.88    | 0.82%             |  |  |  | No            |                  2 | On Loan: No      |
| OQ Exploration & Production SAOG                         | OQ Exploration & Production SAOG OMR0.01                                          | CUSIP: M81580124<br>LEI: N/A                  | Long             | EC               | CORP              | OM        |    614238 | NS      | $427688.91    | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Emaar Properties PJSC                                    | Emaar Properties PJSC AED1                                                        | CUSIP: M4025S107<br>LEI: 254900YWYEXYXK1BMP81 | Long             | EC               | CORP              | AE        |    912902 | NS      | $3261078.07   | 3.58%             |  |  |  | No            |                  2 | On Loan: No      |
| Emirates NBD Bank PJSC                                   | Emirates NBD Bank PJSC AED1                                                       | CUSIP: M4029Z107<br>LEI: 54930029BCN8HF3B1286 | Long             | EC               | CORP              | AE        |    296641 | NS      | $1660329.13   | 1.82%             |  |  |  | No            |                  2 | On Loan: No      |
| Digiplus Interactive Corp.                               | Digiplus Interactive Corp. PHP1                                                   | CUSIP: Y04361112<br>LEI: N/A                  | Long             | EC               | CORP              | PH        |   1202300 | NS      | $861697.91    | 0.95%             |  |  |  | No            |                  2 | On Loan: No      |
| Vinhomes Joint Stock Co.                                 | Vinhomes Joint Stock Co. VND10000                                                 | CUSIP: Y937JX103<br>LEI: 2549007LS0F7J946DA02 | Long             | EC               | CORP              | VN        |    492200 | NS      | $1107776.11   | 1.21%             |  |  |  | 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