GQG sees rebound in FUM

gqg Russia emerging markets ukraine

8 April 2022
| By Liam Cormican |
image
image
expand image

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.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Adnan

It is fascinating to see that this year - 2 funds (Mine Super & CFS FirstChoice Employer Super) which failed APRA Perfor...

12 hours 36 minutes ago
Mitch VB

Thanks for providing us even more work in educating clients on the growth/ defensive splits of all these "top" performer...

12 hours 53 minutes ago
JohnM

Why would you do that for? It would be a case of the same circus, different clowns....

19 hours 6 minutes ago

Insignia Financial has unveiled a new operating model and executive team, including a new head of advice, while three senior executives are set to depart the licensee....

1 week ago

ASIC has obtained interim orders from the Federal Court to freeze the assets of a registered managed fund and prevent its former director from leaving Australia. ...

4 weeks 1 day ago

The $280 billion Australian Retirement Trust is the first superannuation fund off the block to report its performance for the 2023-24 financial year....

2 weeks 3 days ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND