All GQG sectors report FUM fall in April
GQG has seen funds under management fall in April, falling from US$92.9 billion (AU$130.4 billion) to US$90.4 billion over the month.
In an announcement to Australian Securities Exchange (ASX), the firm said assets were US$90.4 billion as of 30 April, 2022.
The greatest loss was seen in the emerging markets equity division which fell from US$24.9 billion to US$23.7 billion.
Its Emerging Market Equity fund had been hurt by the ongoing Russia-Ukraine war but the firm had acted promptly to reduce exposure to the region.
Smaller losses were seen in the firm’s international equity, global equity and US equity divisions which meant all four sectors reported a drop in assets.
International equity fell from $32.6 billion to $31.9 billion, global equity fell from $29.3 billion to $28.9 billion and US equity saw assets fall from $6.1 billion to $5.9 billion.
The falls were due to market movements over the month.
The US firm listed on the ASX last October in the largest IPO of 2021 had seen its share price fall since with shares down 27% since it floated.
AUTHOR
Laura Dew
Recommended for you
AUSIEX has announced it will acquire FIIG, a specialist fixed income provider with $4.5 billion in funds under advice.
Platinum Asset Management has announced it is in discussions with a global alternatives fund manager regarding a possible merger to create an $18 billion firm.
JP Morgan Asset Management has appointed an ETF specialist from Vanguard as it seeks to expand its ETF range.
The alternative asset manager has expanded its Singapore office with a head of Asian distribution, representing a “critical step” for the Asian business, where it is seeking to launch new offerings.
