GQG slumps despite 4.3% increase in FUM in February
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More news: Shares in GQG Partners slumped in afternoon trade and was the worst performing stock across the ASX 200, despite the company reporting a 4.3% increase in funds under management in February.
Shares fell 5.37% to $1.80 at 2:39pm AEDT.
GQG Partners FUM climbs 4.3% despite net outflows of USD3.2b
The news: GQG Partners’ funds under management rose 4.3% from USD165.7 billion ($232.8 billion) to USD172.9 billion in February despite seeing continued net outflows.
The numbers: The fund manager saw net outflows of USD3.2 billion over the month, down from USD5.9 billion in January. It delivered a USD10.5 billion gain from investment performance.
The highest net outflow was from GQG’s ‘Emerging’ strategy at USD1.3 billion. The best investment performance was for GQG’s ‘International’ strategy at USD4.8 billion.
The source: ASX
