GQG starts 2023 with FUM increase
Fund manager GQG Partners has announced its latest funds under management for January, starting off the year with a positive uplift.
In a statement to the Australian Securities Exchange (ASX), the firm said assets had risen from US$88 billion ($127 billion) at the end of 2022 to $US92 billion at the end of January.
This 4.5% growth compared to a 2.9% decline between November and December.
All asset classes- international equity, global equity, emerging market equity and US equity recorded positive gains.
The largest was seen in emerging markets equity which saw a gain of 8% to grow from $22.8 billion to $24.6 billion.
This was followed by a rise of 5.1% for international equity, which rose from $33.1 billion to $34.8 billion, and a 3% rise for US equities which increased from $6.9 billion to $7 billion.
The smallest rise was observed in the firm’s global equity division which rose by 1.1% from $25.2 billion to $25.5 billion.
GQG was headquartered in the US but in Australia, the firm offered a Global Equity fund, Emerging Markets Equity fund and a Global Quality Dividend Income fund, the latter of which was launched last July.
Speaking at the end of 2022, the firm noted it had a “solid pipeline for potential new business in 2023” and that its investment performance combined with distribution capabilities set the firm up well for the year ahead.
AUTHOR
Laura Dew
Recommended for you
Outflows have doubled in the property and infrastructure space to $1.3 billion with advisers instead favouring private markets as Morningstar data finds active property funds are struggling to outperform.
Fund manager HMC Capital is seeking to expand fundraising for its private equity vehicle into wholesale platforms now that it has achieved a three-year track record, while scrapping plans for a second fund.
Former Platinum co-founder James Simpson will take up a non-executive role at Income Asset Management as two directors retire.
Bell Financial Group has announced a 44 per cent decline in half-year net profit after tax but record funds under advice as it transitions into a diverse wealth management business.
