GQG FUM finished year at record high

The news: Florida-headquartered fund manager GQG increased its funds under management (FUM) by USD8 billion ($11.9 billion) in December to end the year on a record high.

The numbers: GQG's FUM increased from USD112.6 billion to USD120.6 billion in the last month of 2023, after falling from USD105.8 billion to USD103.9 billion in October. It recorded net inflows of USD1.8 billion in December and USD9.9 billion for the year. GQG shares were trading 2.4% higher by 11:30am AEDT, fetching $1.70.

What they said: "On a full year basis, we expect to be amongst the top firms in net fund inflows for active equity managers, both in Australia and the US, as measured by the leading industry benchmarking firms," GQG wrote in an ASX update.