GQG targets larger Australian share

GQG Partners has intentions for Australia to become its second-largest market behind its home base in the United States.

The firm, which was founded in 2016 and opened its Sydney office in December 2018, had offices in Florida, New York, Seattle and London.

While Australia currently represented $3.6 billion of its total $47.8 billion in assets under management, it said it could foresee this growing in the future. Its current Australian assets all came from institutional investors.

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A further $2.5 billion came from other parts of Asia Pacific and $10.4 billion from Europe and the Middle East (EMEA).

Chief executive, Tim Carver said: “We see Australia as our second-largest market behind the US, the investors tend to be very sophisticated and very price sensitive. It is a very professional market and one in which we think we could do well.

“We want GQG to a world-class investment boutique and have real commitment to building a best-in-class firm. We are here for the long-term.”

Unlike other firms during this pandemic, the firm had committed to retaining all existing staff in Australia and had made two appointments since the start of the year.

The firm currently ran two funds which were available in Australia, GQG Emerging Markets Equity and GQG Global Equity and both of these had outperformed their benchmarks.

The global equity fund had returned 15.2% over one year to 30 April versus returns by the MSCI ACWI ex Tobacco index of 3.2%. The emerging market fund had returned 1.4% versus losses by the MSCI Emerging Markets ex Tobacco index of 5%.

Performance of GQG Global Equity fund versus MSCI ACWI ex Tobacco benchmark over one year to 30 April 2020.

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