GQG records 380% growth in Aussie wholesale assets
GQG Partners has seen strong growth in Australian wholesale assets with assets rising from $179 million a year ago to $860 million.
Announcing its full-year results for the 12 months to 31 December, 2021, the firm, which is headquartered in the US but listed on the Australian Securities Exchange, said funds under management were US$91.2 billion ($126 billion), up 36.1%, from US$67 billion a year ago. Meanwhile, net flows were US$17.1 billion.
Net revenue was US$397.9 million, up 74.9% from US$227.5 million.
In Australia, assets under management were AU$6.9 billion and wholesale assets were AU$860.2 million and the funds were listed on 16 platforms.
The weighted average management fee for the year was 49.2 bps, slightly higher than 48.6 bps for 2020. Less than 1% of revenue was derived from performance fees, as opposed to asset-based fees, which the firm believed would be more stable in periods of market volatility.
Tim Carver, chief executive of GQG Partners, said: “Our financial result is driven in large part by our investment performance over the long term. As at the end of the year, our strategies continued to provide solid long-term performance as compared to their benchmarks, which we believe provides the underpinning for continued business success”.
AUTHOR
Laura Dew
Recommended for you
Natixis Investment Managers has hired a distribution director to specifically focus on the firm’s work with research firms and consultants.
The use of total portfolio approaches by asset allocators is putting pressure on fund managers with outperformance being “no longer sufficient” when it comes to fund development.
With evergreen funds being used by financial advisers for their liquidity benefits, Harbourvest is forecasting they are set to grow by around 20 per cent a year to surpass US$1 trillion by 2029.
Total monthly ETF inflows declined by 28 per cent from highs in November with Vanguard’s $21bn Australian Shares ETF faring worst in outflows.
