GQG approaches US$100bn FUM
Funds under management at GQG Partners are approaching US$100 billion thanks to inflows of more than US$5 billion since the start of 2023.
According to its monthly flows update which was released to the Australian Securities Exchange (ASX), the asset manager reported total funds under management to US$98.6 billion, up from US$94.5 billion in the previous month.
This was attributed to inflows of US$5.4 billion ($7.9 billion) since the start of the year.
FUM was up 9 per cent from the same period a year ago when it was US$90.4 billion.
The largest monthly percentage increase was seen in US equities which rose 5.4 per cent from US$7.3 billion to US$7.7 billion.
The other three asset classes – international equity, global equity and emerging market equity – all rose by around 4 per cent each.
International equity was the largest asset class at US$37.6 billion, up from US$36. 1 billion in the previous month followed by global equity at US$27.6 billion and emerging market equity at US$25.7 billion.
GQG was headquartered in the US but in Australia, the firm offered a Global Equity fund, Emerging Markets Equity fund and a Global Quality Dividend Income fund, the latter of which was launched last July.
Earlier this year, the firm reported its full year results to 31 December and said it saw positive net inflows of US$8 billion during 2022 while net revenue increased by almost 10 per cent.
The inflows had come despite a “challenging market environment with continued industry outflows and overall negative market returns”, it said.
Some US$1 billion came from the Asia Pacific region which included Australia while US$9.5 billion came from investors in the Americas. However, they were offset by outflows of US$2.5 billion in EMEA.
AUTHOR
Laura Dew
Recommended for you
Some 42 per cent of CEOs say they are actively reinventing their business to stay relevant in the next decade, with consumer services the most common choice for asset and wealth managers.
Former Ophir Asset Management chief executive, George Chirakis, has joined private equity manager Scarcity Partners, while the asset manager has appointed a replacement from Macquarie.
Australian Unity has appointed a fund manager for its Healthcare Property Trust, joining from Centuria Healthcare, as it restructures the product with a series of senior appointments.
Financial advisers nervous about the liquidity of private markets funds for their retail clients are the target of fund managers launching semi-liquid products which offer greater flexibility and redemptions.
