GQG sees FUM reach US$108 billion
A large redemption by a UK pension fund has failed to dent the funds under management of GQG in July, as it makes a bid for Pacific Current Group.
In its funds under management for July, the firm saw a rise from US$104.1 billion ($158.4 billion) at the end of June to US$108.1 billion.
It surpassed US$100 billion for the first time last month when assets grew from US$98.5 billion to US$104.1 billion thanks to client demand across multiple geographies and channels.
All four of its asset classes reported an increase during the month with the largest coming in the emerging markets equity space which rose by 6.1 per cent from US$27.7 billion to US$29.4 billion.
International equity rose from US$39.3 billion to US$40.9 billion, global equity rose slightly from US$28.8 billion to US$29.2 billion and US equity rose from US$8.3 billion to US$8.6 billion.
The firm said: “For the first seven months of 2023, we experienced net inflows of $6 billion.
“During July we had a large redemption of US$0.8 billion from one UK pension fund. This relates to the broad de-risking from UK pension funds that we disclosed previously.
“Absent this redemption, net inflows through 31 July 2023 would have been $6.8 billion.”
Last month, the firm announced that it is making a bid for Pacific Current Group, which owns a 4 per cent stake of GQG.
This is the second bid for the firm as it is also being approached by Regal Partners.
Chief executive, Tim Carver, said: “We believe we can put forward a compelling proposal to PAC shareholders and that we will be viewed as strategically compelling to both PAC’s underlying portfolio companies and management team.
“We have a long history with PAC both as executives and by virtue of our corporate relationship.
“We have evaluated the PAC portfolio and have a strategic vision for unlocking value for PAC’s shareholders and portfolio companies.”
AUTHOR
Laura Dew
Recommended for you
Being able to provide certainty about redemptions is worth fund managers pursuing when targeting the retail market even if it means sacrificing returns, according to Federation Asset Management.
Regal chief investment officer Philip King will step down from listed investment company VGI Partners Global Investments after the LIC reported a loss of $17.6 million for FY25.
Real asset commentators have shared what advisers should be considering when conducting their due diligence on the assets and how they can mitigate illiquidity for retail clients.
GQG Partners has announced net flows were down 28 per cent in the first half of 2025, with redemption pressure particularly hitting Australia.
