GQG sees rebound in FUM
GQG Partners has seen growth in its funds under management (FUM) of US$3.1 billion (AU$4.13 billion) during March despite a difficult macro environment.
Total FUM rose from US$89.8 billion to US$92.9 billion during March.
The firm had reported a downturn in FUM during February with assets falling from US$91.3 billion to US$89.8 billion as a result of negative market performance, particularly for its Emerging Markets Equity fund which was affected by the Russia-Ukraine war.
GQG had been quick to divest its Russian exposure with the weighting in the EM fund falling from 15.1% at the end of December to just 1.3% at the end of February.
Over the nine months to March 2022, the firm, which floated in October in the largest IPO of 2021, had recorded US$9.6 billion in net inflows.
In an announcement to the Australian Securities Exchange (ASX), GQG Partners cited its global strategy as a significant area of growth, jumping from US$27.6 billion to US$29.3 billion.
Laird Abernethy, managing director Australia and New Zealand for GQG Partners, said: “We’re seeing particularly strong interest in our global equity strategy in the Australian market as a result of the strategy’s consistent outperformance since inception, as well as its ability to offer downside protection for investors, as evidenced during March 2020 and more recently the sell-off over the first quarter of 2022”.
The firm said it continued to see business momentum across multiple geographies and channels with US$3.4 billion positive net flows across multiple geographies, notably in the Australian and Canadian retail channels.
AUTHOR
Liam Cormican
Recommended for you
First Sentier Investors chief executive, Mark Steinberg, is set to depart the asset manager after seven years.
Metrics Credit Partners has completed the acquisition of Taurus Finance Group and BC Investment Group as it looks to launch consumer lending arm Navalo.
AMP has announced to the ASX that it is being sued by property fund manager Dexus regarding the sale of its real estate and domestic infrastructure equity business.
Having seen inflows of US$5.6 billion to its fixed income funds in the last quarter, Janus Henderson has closed on a deal with life insurer Guardian to secure funds to boost its product development.
