GQG enjoys 10th consecutive FUM rise

GQG’s funds under management (FUM) has continued to climb after surpassing US$150 billion earlier this year.

In an update to the ASX on Monday, GQG said its funds under management (FUM) as at 31 August 2024 was US$160.8 billion, up from US$156.3 billion at the end of July. This marked its 10th consecutive FUM increase since November 2023.

The firm also posted year to date net inflows of US$15.2 billion.

Breaking it down by asset class, the largest FUM rise this month was seen in its international equity division, which rose by US$2.2 billion over the month.

Emerging markets equity and global equity both saw modest increases, edging up by US$400 million and US$900 million, respectively.

Meanwhile, GQG’s US equity FUM rose by $1 billion in August.

In an update earlier this year, the investment boutique said it anticipates continued positive new flows in 2024 with a “solid pipeline” of potential new FUM.

This was reaffirmed in its half-year results posted last month, where GQG experienced US$11.1 billion of positive net flows during the first six months of 2024.

GQG chief executive Tim Carver said at the time that these results exceeded the expectations it had set for the business over the past several years.

“We believe these flows reflect clients’ trust in our approach, driven by the consistency of our long‑term returns,” Carver noted.

Each of the firm's primary strategies also outperformed their benchmarks, led by GQG Partners Global Equity returning 36.96 per cent in the year to 30 June, while its emerging markets equity strategy returned 33.2 per cent, outperforming the MSCI EM Index’s one-year return of 12.55 per cent.

“Our financial results were driven in large part by our investment performance over the long-term. As at the end of June 2024, our strategies continued to generate solid relative returns with lower volatility compared to their benchmarks, which we believe provides the foundation for continued business success,” Carver said.

Noting that its investment performance “underpins the entire business”, he reiterated the firm's focus on perpetuating this performance.

“Of course there will be periods where we underperform, but we believe our culture of focus, drive, and adaptability can help us right the ship when we trail markets, steering us in a direction that will help us achieve our goal of long-term outperformance.”