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.

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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.