GQG shares rally on FUM rise, dividend hike
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More news: GQG shares were 5.09% higher at $2.27 in early afternoon trading after the fund manager posted a rise in funds under management in April.
During the month, its FUM rose 1.05% to US$163.6 billion ($255.86 billion) while net flows were at US$1.4 billion.
GQG also announced an increased quarterly dividend.
GQG increases FUM in April and announces dividend
The news: Fund manager GQG Partners has posted a rise in funds under management (FUM) in April and announced its quarterly dividend.
The numbers: During April, its FUM rose 1.05% to USD163.6 billion ($255.86 billion) from March while net flows were at USD1.4 billion. Year-to-date its net flows have totalled USD6 billion.
All its segments experienced FUM growth except its global equity segment, which fell to USD39.9 billion from USD40 billion.
GQG also announced a quarterly dividend of $0.059 to be paid on 27 June. The dividend represented 93.3% of the company’s estimated first quarter distributable earnings, up from 90% from the previous quarter.
