GQG sees rebound in FUM

gqg Russia emerging markets ukraine

8 April 2022
| By Liam Cormican |
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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.

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