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
Australian fund managers are actively seeking to launch Cayman versions of their funds to attract offshore flows, with Regal Partners set to launch its latest offering this month.
As private markets gain traction in Australia but only a limited pool of talent is available, three recruiters explore whether fund managers should consider looking overseas to find top talent.
With an explosion of private credit managers appearing in the market, two alternatives experts believe a consolidation is needed to maintain the quality of the sector.
Bentham Asset Management has become the latest fund manager to expand its distribution team as it reports increased interest in its credit strategies.
