GQG funds lost $2.1b in April

The news: GQG Partners recorded its first monthly funds under management (FUM) decline since last October.

The numbers: The investment boutique's FUM dropped 1%, or USD1.4 billion ($2.11 billion), month on month to USD142 billion.

The Florida-headquartered fund manager saw mixed results across its segments, with international equity unchanged at USD55.8 billion, global equity down 4.6% to USD35 billion, US equity down 2.5% to USD11.6 billion, and emerging markets equity up 1.5% to USD39.6 billion.

GQG reported net inflows for the year to date of USD6.3 billion.

The context: GQG's April decline followed five consecutive months of FUM growth, since the company reported a $1.9 billion net outflow in October 2023.