GQG 'constantly on the lookout' for fund managers to buy
The Florida based, ASX-listed global stockpicking house is focused on organic growth but admits it is still looking for potential acquisitions of rival fund managers.
When GQG set up shop in Australia in 2019, it was considered locally as something of a strange beast.
Led by founder and star stockpicker Rajiv Jain, the Fort Lauderdale, Florida-based fundie had accumulated a little less than USD20 billion ($29.9 billion) in funds under management when it expanded Down Under.
Within four years, that figure has swelled by about six times with the ASX-listed company breaking USD120 billion at the very end of 2023, despite some earlier setbacks.
Today, the local financial services sector has grown familiar with the GQG name. The Australian arm has 15 staff and $10 billion under management, split 65/35 between institutional and wholesale investors and is growing roughly in-line with the global business.
