GQG ends 2022 with strong footing
Despite a tumultuous year for equity markets, GQG has ended the year at nearly 96% of the level of funds under management at which it began.
Per industry benchmarking, GQG said it would expect to be among the top firms in net fund inflows for active equity managers both in Australia and the US on a full year basis as it received US$8 billion ($11 billion) in inflows during the year.
GQG’s December quarterly figures indicated the firm wrapped up 2022 at US$88 billion, compared to $US91.2 billion at year end 2021.
For the quarter, it experienced net inflows of US$0.9 billion.
“Given global equity market returns, combined with overall industry net outflows in 2022, we are pleased that we have been able to withstand these pressures and continue to deliver for our clients and shareholders this year,” GQG noted.
Of the total funds under management at year end, international equity comprised the largest chunk at US$33.1 billion, followed by global equity at US$25.2 billion.
Emerging markets equity stood at US$22.8 billion and US equity was US$6.9 billion.
All funds were slightly lower than November 2022 figures, the quarterly data showed.
As in prior periods, GQG highlighted that management fees, those fees that were a percentage of assets managed, continued to make up the lion’s share of net revenue, compared to performance fees linked to investment performance.
GQG stated: “We continue to see business momentum, with a solid pipeline for potential new business in 2023. We believe our strong investment performance in 2022, combined with our global, diversified distribution capabilities position us well in the market”.
AUTHOR
Rhea Nath
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.
