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
Bell Financial Group has appointed a chief investment officer who joins the firm from Clime Investment Management.
Private markets funds with “unattractive practices” could find themselves facing enforcement activity with ASIC chair Joe Longo stating he cannot rule it out in the future.
Despite ASIC concerns about private credit funds being accessed via the advised channel, there are questions regarding how high its usage actually is among financial advisers.
Challenger has looked to the superannuation industry for its appointment of a group chief investment officer, a newly-created role.
