GQG sees net flows decline in February
GQG Partners has announced its funds under management for February, but reported lower net flows during the month.
Total FUM stood at US$160.5 billion ($254.6 billion) which was largely unchanged from $160.4 billion at the end of January. This compared to growth of 4.8 per cent in the previous month.
International, global and US equities all saw small increases in FUM, while emerging markets equity FUM dropped by 6 per cent from US$40 billion to US$37.6 billion.
Assets in international equity rose from US$60.6 billion to US$61.9 billion, global equity rose from US$41.3 billion to US$41.6 billion, and US equity grew from US$18.5 billion to US$19.4 billion.
Looking at net flows, these were US$1.1 billion compared to US$1.7 billion in January. The largest flows were US$1 billion which went into US equity, followed by US$0.5 billion into global equity and US$0.4 billion into international ones. Emerging market equities saw outflows of US$0.7 billion which followed outflows of US$0.4 billion in January.
Year to date flows stand at US$2.8 billion, slightly below US$3 billion at the same time a year ago.
Announcing its full-year results for 2024 in February, the fund manager reported net flows of US$20.2 billion, double the size of the US$10 billion it saw in net flows for 2023. Looking at Australia, the country accounted for US$200 million of the total net flows and US$8.5 billion of its total FUM for 2024.
Chief executive Tim Carver said: “As I look forward into 2025, I see strength in the key measures of health for our business. Of course, given volatility in markets, changes in asset allocation by investors, and the overall geopolitical environment, we may well face headwinds, but we will fight the headwinds and continue to invest and reinvent ourselves.
“We see substantial opportunities for the business in the years ahead and are energised to try to capture them.”
Earlier this year, research house Morningstar identified GQG as one of the active managers offering the greatest value and where their value is being underestimated. Shares in GQG are up by 2.8 per cent over the past year to 10 March.
Equity analyst Shaun Ler said: “For GQG, these are its strong long-term track record, below peer average fees, widespread presence on recommended product lists, and good team stability.”
AUTHOR
Laura Dew
Recommended for you
Infrastructure assets are well-positioned to hedge against global uncertainty and can enhance the diversification of traditional portfolios with their evergreen characteristics, an investment chief believes.
Volatility in US markets means currency is becoming a critical decision factor in Australian investors’ ETF selection this year.
Clime Investment Management is overhauling the selection process for its APLs, with managing director Michael Baragwanath describing the threat of a product failure affecting clients as “pure nightmare fuel”.
Global X will expand its ETF range of exchange-traded funds next month with a low-cost Australian equity product as it chases ambitions of becoming a top issuer of ETFs in Australia.
