GQG Partners sees strong February inflows
GQG Partners has seen its funds under management (FUM) increase by US$10.5 billion to US$137.5 billion over the course of February.
In its monthly update to 29 February, the boutique asset management firm said its FUM has risen to US$137.5 billion – a growth of US$10.5 billion from US$127 billion in January.
In the month prior, GQG saw a slightly lower FUM growth of US$7 billion.
The firm’s February results was underpinned by net inflows of US$3 billion, nearly doubling its net inflows of US$1.9 billion in January.
Looking at the individual asset classes, international equity saw the largest growth again of US$3.7 billion to US$52.9 billion in February from US$49.2 billion in the previous month.
This was followed by global equity which increased from US$33 billion to US$36 billion.
Emerging markets equity grew from US$35.1 billion to US$37.1 billion, while US equity rose from US$9.7 billion to US$11.5 billion.
Last month, GQG announced its full-year calendar results for 2023. Its FUM was up 37 per cent to US$120.6 billion at the end of December, and it had seen net flows of US$10 billion.
Breaking it down by those in Australia, it had some US$1 billion of flows and accounted for US$7.6 billion of funds under management. Its Global Equity Fund, in particular, saw 59 per cent of total inflows over the last three years come from Australian investors.
Last year, the firm made an acquisition bid for Pacific Current Group (PAC), but the deal ceased a few months later after failing to achieve the support of PAC’s largest shareholder.
Reflecting on whether GQG would pursue other opportunities this year, Tim Carver, chief executive, said M&A activity was not an objective.
Carver stated: “We did pursue an acquisition of Pacific Current Group, ultimately this didn’t come to fruition, and we did that from a very strategic standpoint as we would like to expand into the alternatives space.
“We are always open-minded on finding ways to grow the business to bring our clients’ innovative investment strategies, but we don’t have an objective to grow through acquisitions.
"I’m fairly skeptical of M&A activity in this industry as it is very, very hard to pull off.”
AUTHOR
Jasmine Siljic
Recommended for you
Platinum Asset Management has put its two closed-end funds under strategic review in a bid to reduce the share price discount to pre-tax NTA and maximise shareholder value.
In the latest Meet the Manager profile, Money Management speaks with Michael Skinner, founder and managing director at Blackwattle Investment Partners.
Perpetual has seen AUM rise 6 per cent in the last quarter but the departure of a longstanding JOHCM fund manager led to outflows of $2.2 billion from his strategy.
Global fixed income fund Bentham Global Opportunities has been added to several major platforms, enabling it to be accessed more easily by financial advisers.
Add new comment