GQG Partners saw its funds under management (FUM) grow by nearly 5 per cent in January to more than US$160 billion ($255 billion).
In its monthly ASX update, the firm’s FUM rose 4.8 per cent from US$153 billion in December to US$160.4 billion in January, thanks to US$1.7 billion in net flows.
US equity enjoyed the strongest growth in January with a rise of 10.8 per cent, from US$16.7 billion to US$18.5 billion.
This was followed by global equity, which increased by 6.4 per cent, from US$38.8 billion to US$41.3 billion, and international equity after it rose 5.9 per cent, from US$57.2 billion to US$60.6 billion.
Emerging markets equity was the only asset class to see a decline, albeit minor, from US$40.3 billion to US$40 billion after experiencing outflows of $0.4 billion.
International equity saw net inflows of US$0.9 billion, US equity gained US$0.8 billion, and global equity received inflows of US$0.5 billion.
The positive inflows are a turnaround from December when GQG experienced US$200 million in net outflows which prompted its FUM to fall by 4 per cent, from US$159.5 billion in November to US$153 billion.This was the result of redemptions from mandates held by its institutional investors, especially those in global and international equities.
It followed news that energy and infrastructure companies Adani Group, of which GQG was a major backer, were facing indictment charges from US authorities over an alleged bribery scheme.
It had previously warned that the firm was likely to observe “heightened interest in our near-term flows” after the firm was caught up in the scandal.
For the 2024 calendar year, overall flows were $20.3 billion, double the $10.2 billion seen in 2023, while flows for the three months to 31 December were US$2.8 billion. Only two months in the 2024 calendar year experienced outflows: October and December.
In December, the firm also closed its first private markets fund at $145 million. This was the first fund as part of its new private capital solutions business that sits separate from its global equities division.
Morningstar recently released its Australian Asset Manager report for Q2 FY2024–25, which projected a 2.6 per cent FUM growth at GQG, thanks to net inflows. Challenger and GQG Partners were both identified by the research house as offering the greatest value, alongside Perpetual.
“For GQG, these are its strong long-term track record, below peer average fees, widespread presence on recommended product lists, and good team stability,” Morningstar stated.
