# EDGAR Filing Document

**Accession Number:** 0001498498
**File Stem:** 0001145549-25-042005
**Filing Date:** 2025-6
**Character Count:** 23426
**Document Hash:** 2f0afc111bb2b577038efe7b031fee65
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-042005.hdr.sgml**: 20250626

**ACCESSION NUMBER**: 0001145549-25-042005

**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:** 251075971

**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:** 2025-04-30

**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:** $22721455.04

**Total Liabilities:** $219348.57

**Net Assets:** $22502106.47

**Cash Not Reported:** $1763502.06

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000174429 | 0.00%                | 0.00%                | 1.01%                |
| Class ID C000174430 | -0.13%               | -0.13%               | 1.04%                |
| Class ID C000174431 | 0.12%                | -0.12%               | 1.12%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $379121.94               | $-397620.29                                |
| Month 2  | $315229.64               | $-361719.77                                |
| Month 3  | $294433.68               | $-80313.57                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| SK Telecom Co Ltd                                      | SK Telecom Co Ltd KRW100                                              | CUSIP: Y4935N104<br>LEI: 9884003WEA1PHW006037 | Long             | EC               | CORP              | KR        |      9799 | NS      | $376462.14    | 1.67%             |  |  |  | No            |                  2 | On Loan: No      |
| MediaTek Inc.                                          | MediaTek Inc. TWD10                                                   | CUSIP: Y5945U103<br>LEI: 254900UEGBK1I4DM4E14 | Long             | EC               | CORP              | TW        |     15100 | NS      | $639877.27    | 2.84%             |  |  |  | No            |                  2 | On Loan: No      |
| E Ink Holdings Inc.                                    | E Ink Holdings Inc. TWD10                                             | CUSIP: Y2266Z100<br>LEI: 529900UOR451FJJYL571 | Long             | EC               | CORP              | TW        |     36000 | NS      | $250992.48    | 1.12%             |  |  |  | No            |                  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        |     34000 | NS      | $151076.65    | 0.67%             |  |  |  | No            |                  2 | On Loan: No      |
| Raia Drogasil SA                                       | Raia Drogasil SA COM NPV                                              | CUSIP: P7942C102<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     76400 | NS      | $267090.03    | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Maruti Suzuki India Ltd.                               | Maruti Suzuki India Ltd. INR5                                         | CUSIP: Y7565Y100<br>LEI: 335800D27PBEESKKD357 | Long             | EC               | CORP              | IN        |      3142 | NS      | $455160.76    | 2.02%             |  |  |  | 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        |     19007 | NS      | $496877.14    | 2.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank Central Asia Tbk PT                               | Bank Central Asia Tbk PT IDR12.50                                     | CUSIP: Y7123P138<br>LEI: 254900BR956G2OHVOM21 | Long             | EC               | CORP              | ID        |   1509400 | NS      | $811218.12    | 3.61%             |  |  |  | No            |                  2 | On Loan: No      |
| Absa Group Ltd                                         | Absa Group Ltd ZAR2                                                   | CUSIP: S0270C106<br>LEI: 2138006IPPRD4N6XLT30 | Long             | EC               | CORP              | ZA        |     13057 | NS      | $120104.59    | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| Wistron Corp                                           | Wistron Corp TWD10                                                    | CUSIP: Y96738102<br>LEI: 254900DIEONKUALBFM06 | Long             | EC               | CORP              | TW        |     37000 | NS      | $117904.71    | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| Tata Consultancy Services Ltd.                         | Tata Consultancy Services Ltd. INR1                                   | CUSIP: Y85279100<br>LEI: 335800ZJKU9GPQRE2U66 | Long             | EC               | CORP              | IN        |      6718 | NS      | $274784.60    | 1.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Reliance Industries Ltd.                               | Reliance Industries Ltd. INR10(100%DEMAT)                             | CUSIP: Y72596102<br>LEI: 5493003UOETFYRONLG31 | Long             | EC               | CORP              | IN        |      7546 | NS      | $125608.33    | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| Hyundai Glovis Co Ltd.                                 | Hyundai Glovis Co Ltd. KRW500                                         | CUSIP: Y27294100<br>LEI: 988400U6RDXNJ5ZRN304 | Long             | EC               | CORP              | KR        |      4382 | NS      | $351916.19    | 1.56%             |  |  |  | No            |                  2 | On Loan: No      |
| Delta Electronics Inc.                                 | Delta Electronics Inc. TWD10                                          | CUSIP: Y20263102<br>LEI: 529900UVZWNWGDLJSM52 | Long             | EC               | CORP              | TW        |     33000 | NS      | $345384.41    | 1.53%             |  |  |  | No            |                  2 | On Loan: No      |
| SK Hynix Inc.                                          | SK Hynix Inc. KRW5000                                                 | CUSIP: Y8085F100<br>LEI: 988400XAIK6XISWQV045 | Long             | EC               | CORP              | KR        |      4200 | NS      | $527757.36    | 2.35%             |  |  |  | No            |                  2 | On Loan: No      |
| ANTA Sports Products Ltd.                              | ANTA Sports Products Ltd. HKD0.10                                     | CUSIP: G04011105<br>LEI: 529900291XG0CTK4LF95 | Long             | EC               | CORP              | KY        |     39600 | NS      | $472500.36    | 2.10%             |  |  |  | No            |                  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        |      3403 | NS      | $260125.20    | 1.16%             |  |  |  | No            |                  2 | On Loan: No      |
| JD.com Inc.                                            | JD.com Inc. USD0.00002 A CLASS                                        | CUSIP: G8208B101<br>LEI: 549300HVTWB0GJZ16V92 | Long             | EC               | CORP              | KY        |     13700 | NS      | $224908.15    | 1.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SK Square Co Ltd                                       | SK Square Co Ltd KRW100                                               | CUSIP: Y8T6X4107<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      3784 | NS      | $237332.71    | 1.05%             |  |  |  | No            |                  2 | On Loan: No      |
| KE Holdings Inc.                                       | KE Holdings Inc. SPONSORED ADS                                        | CUSIP: 482497104<br>LEI: 254900RHVY072XPAZE03 | Long             | EC               | CORP              | KY        |     11473 | NS      | $232901.90    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| GCC, S.A.B. de C.V.                                    | GCC, S.A.B. de C.V. COM MXN0.4 144A/REG S                             | CUSIP: P4948S124<br>LEI: 254900WY9XL8033CKX68 | Long             | EC               | CORP              | MX        |     23730 | NS      | $198995.36    | 0.88%             |  |  |  | Yes           |                  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        |      3500 | NS      | $111334.06    | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| Vista Energy S.A.B. de C.V.                            | Vista Energy S.A.B. de C.V. SPON ADS EA REP 1 ORD SHS                 | CUSIP: 92837L109<br>LEI: 549300UDOHP7958KNS89 | Long             | EC               | CORP              | MX        |      4620 | NS      | $208685.40    | 0.93%             |  |  |  | No            |                  1 | 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        |     34200 | NS      | $205047.04    | 0.91%             |  |  |  | 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        |      8360 | NS      | $252804.70    | 1.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Alibaba Group Holding Ltd.                             | Alibaba Group Holding Ltd. USD0.000003125                             | CUSIP: G01719114<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | KY        |     67000 | NS      | $1005453.13   | 4.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Proya Cosmetics Co Ltd.                                | Proya Cosmetics Co Ltd. A CNY1                                        | CUSIP: Y7S88X100<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |     23800 | NS      | $312943.18    | 1.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Reliance Industries Ltd.                               | Reliance Industries Ltd. SPON GDR EACH REP 4 ORD SHS 144A             | CUSIP: 759470107<br>LEI: 5493003UOETFYRONLG31 | Long             | EC               | CORP              | IN        |      7257 | NS      | $473226.72    | 2.10%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Itau Unibanco Holding SA                               | Itau Unibanco Holding SA ADR EACH REPR 1 PRF NPV                      | CUSIP: 465562106<br>LEI: 5493002W2IVG62O3ZJ94 | Long             | EC               | CORP              | BR        |     60521 | NS      | $381887.51    | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Biologics Co Ltd                               | Samsung Biologics Co Ltd KRW2500                                      | CUSIP: Y7T7DY103<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |       152 | NS      | $112415.72    | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Tencent Holdings Ltd.                                  | Tencent Holdings Ltd. HKD0.00002                                      | CUSIP: G87572163<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | KY        |     18100 | NS      | $1123173.46   | 4.99%             |  |  |  | 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        |     40500 | NS      | $348030.90    | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co., Ltd.           | Taiwan Semiconductor Manufacturing Co., Ltd. SPON ADS REP 5 ORD TWD10 | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |      2012 | NS      | $335380.28    | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| CEMEX S.A.B. de C.V.                                   | CEMEX S.A.B. de C.V. SPON ADR REP 10 ORD SHS                          | CUSIP: 151290889<br>LEI: 549300RIG2CXWN6IV731 | Long             | EC               | CORP              | MX        |     43611 | NS      | $269079.87    | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Vale S.A.                                              | Vale S.A. COM NPV                                                     | CUSIP: P9661Q155<br>LEI: 254900SMTWBX7RU2SR20 | Long             | EC               | CORP              | BR        |     34000 | NS      | $316685.90    | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| ICICI Bank Ltd.                                        | ICICI Bank Ltd. SPON ADR EACH REP 2 ORD SHS                           | CUSIP: 45104G104<br>LEI: R7RX8ER1V4666J8D1I38 | Long             | EC               | CORP              | IN        |     32359 | NS      | $1085968.04   | 4.83%             |  |  |  | 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        |      3466 | NS      | $209346.40    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Petroleo Brasileiro SA                                 | Petroleo Brasileiro SA SPON ADS EACH REP 2 ORD SHS                    | CUSIP: 71654V408<br>LEI: 5493000J801JZRCMFE49 | Long             | EC               | CORP              | BR        |     19272 | NS      | $217580.88    | 0.97%             |  |  |  | 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        |     24504 | NS      | $341095.68    | 1.52%             |  |  |  | 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        |     15328 | NS      | $1114192.32   | 4.95%             |  |  |  | No            |                  1 | On Loan: No      |
| YPF Sociedad Anonima                                   | YPF Sociedad Anonima SPON ADR(REP 1 CL'D'ARS10)                       | CUSIP: 984245100<br>LEI: 5493003N7447U18U5U53 | Long             | EC               | CORP              | AR        |      6340 | NS      | $188932.00    | 0.84%             |  |  |  | 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        |    139251 | NS      | $434690.70    | 1.93%             |  |  |  | No            |                  2 | On Loan: No      |
| KB Financial Group Inc.                                | KB Financial Group Inc. KRW5000                                       | CUSIP: Y46007103<br>LEI: 529900TKE4MXG3Q6GW86 | Long             | EC               | CORP              | KR        |      3823 | NS      | $242593.75    | 1.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Aldar Properties                                       | Aldar Properties AED1                                                 | CUSIP: M0517N101<br>LEI: 98450048CD8AEF13B480 | Long             | EC               | CORP              | AE        |    197599 | NS      | $444882.97    | 1.98%             |  |  |  | No            |                  2 | On Loan: No      |
| Southern Copper Corporation                            | Southern Copper Corporation COM USD0.01                               | CUSIP: 84265V105<br>LEI: 2549007U6NAP46Q9TU15 | Long             | EC               | CORP              | US        |      2496 | NS      | $223441.92    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| H World Group Ltd.                                     | H World Group Ltd. SPON ADS EACH REP 1 ORD SHS                        | CUSIP: 44332N106<br>LEI: 549300Y5ML31FVN83730 | Long             | EC               | CORP              | KY        |     12571 | NS      | $430431.04    | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co Ltd.                            | Samsung Electronics Co Ltd. KRW100                                    | CUSIP: Y74718100<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |      2718 | NS      | $106514.14    | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Mercadolibre Inc                                       | Mercadolibre Inc COM USD0.001                                         | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |       199 | NS      | $463839.15    | 2.06%             |  |  |  | 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        |     82951 | NS      | $2364615.25   | 10.51%            |  |  |  | No            |                  2 | On Loan: No      |
| Sun Pharmaceutical Industries Ltd.                     | Sun Pharmaceutical Industries Ltd. INR1(DEMAT)                        | CUSIP: Y8523Y158<br>LEI: 335800KJ7GE29LB4SS73 | Long             | EC               | CORP              | IN        |     10832 | NS      | $235355.97    | 1.05%             |  |  |  | No            |                  2 | On Loan: No      |
| ASE Technology Holding Co Ltd.                         | ASE Technology Holding Co Ltd. SPON ADS EACH REP 2 ORD SHS            | CUSIP: 00215W100<br>LEI: 300300GO8QHPMV87NZ73 | Long             | EC               | CORP              | TW        |     32500 | NS      | $283725.00    | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Clicks Group Ltd.                                      | Clicks Group Ltd. ZAR0.01                                             | CUSIP: S17249111<br>LEI: 378900E967958A677472 | Long             | EC               | CORP              | ZA        |      8425 | NS      | $179809.05    | 0.80%             |  |  |  | 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