GQG lifts FUM in March, says repositioning for volatility

The news: Investment manager GQG Partners has reported higher funds under management (FUM) in March, and said it is repositioning portfolios amid ongoing market volatility.

The numbers: The Florida-based firm said funds under management rose to a record USD161.9 billion ($271.7 billion) at the end of March, up from USD160.5 billion a month earlier. It recorded net inflows of USD1.8 billion for the month, with three of its four segments experiencing growth.

International equity FUM was up 2.9% for the month to USD63.7 billion, while Emerging markets equity FUM rose 4% to USD39.1 billion. However, global equity shrank 1% to USD40 billion, while FUM for US equity was also down 1% to USD19.1 billion.

The context: GQG said it continued to reposition portfolios, particularly in March, with the aim of achieving higher certainty of earnings from its holdings, which is appropriate in the current market environment, resulting in “the lowest beta” in portfolios compared to their respective benchmarks since the firm’s founding in 2016.