GQG flows recover after Adani furore
GQG Partners has revealed its quarterly flows for the first three months of 2025, up 5.8 per cent during the period.
Total FUM was US$161.9 billion ($271 billion), up from US$160.5 billion in February and US$153 billion at the end of 2024. Monthly net flows were US$1.8 billion, up from US$1.1 billion in the previous month.
In the previous quarter, the firm experienced redemptions from the institutional channel in December as a result of its investment in energy and infrastructure company Adani which saw its shares plunge after news that the company was facing indictment charges from US authorities over an alleged bribery scheme.
Net flows during the quarter were US$4.6 billion, with only emerging markets equity reporting outflows of US$1.1 billion. On the other hand, international equity saw inflows of US$2 billion, US equity gained US$2.5 billion, and global equity gained US$1.1 billion.
March’s FUM is up 13 per cent from US$143.4 billion last March.
International equity and emerging markets equity asset classes saw increases in their FUM during the month, while global equity and US equity saw declines.
International equity remains the largest asset class at US$63.7 billion, up from US$61.9 billion, followed by global equity, emerging markets equity, and US equity. Global equity fell from US$41.6 billion to US$40 billion, while US equity fell from US$19.4 billion to US$19.1 billion.
In an ASX statement, the fund manager said: “For the first quarter of 2025, three of our flagship strategies outperformed their relative benchmarks. We believe that we continue to be well positioned relative to the competition with strong long-term risk adjusted returns bolstered by our global distribution capabilities.”
It also referenced how the US-headquartered firm is positioning for the tariffs implemented by US President Donald Trump on 2 April.
“As the first quarter progressed, and in particular in March, we continued to reposition our portfolios with the aim of achieving higher certainty of earnings in our holdings, which we believe is appropriate in the current market environment.
“By quarter end, that repositioning resulted in the lowest beta in our portfolios compared to their respective benchmarks since the firm’s founding in 2016 (as presented below for our global equity strategy). However, our positioning is always fluid and will change over time and it may do so meaningfully over short periods.”
AUTHOR
Laura Dew
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