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
Platinum Asset Management has provided an update on the possibility of a merger with asset manager L1 Capital following a period of due diligence.
Commentators may be forecasting consolidation in private market firms but a survey of the industry itself expects new manager formation will still outpace this, especially in Asia Pacific.
Fund manager Pacific Current has appointed a former superannuation chief executive as its newest chair, succeeding Tony Robinson who departs after almost a decade to focus on his role at COG Financial.
The possibility of a private credit ETF is looking unlikely for now with US vehicles seeing limited uptake, according to commentators, but fixed income alternatives exist that can provide investors with a similar return.
