GQG Partners FUM grows 3.7% in June
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The news: Investment manager GQG Partners lifted its funds under management (FUM) in June as all of its funds notched month-on-month growth despite experiencing moderate redemption pressure.
The numbers: Its funds under management (FUM) was up USD5.5 billion ($8.15 billion), or 3.7%, to USD155.6 billion. Year-to-date net inflows at the end of June totalled USD11.1 billion, compared to USD6.2 billion for the same period in 2023.
International equity was up 2% to USD60.1 billion, global equity up 4% to USD39.1 billion, emerging markets equity up 4.6% to USD43 billion, and US equity up 7.2% to USD13.4 billion.
The Florida-based firm’s ASX-listed shares were up more than 101% to $2.95 in the last 12 months.
The context: The investment firm noted that its institutional channel continued to see "moderate redemption pressure from asset allocation and rebalancing challenges" in the second quarter. However, those headwinds were offset by acceleration in GQG's wholesale and sub-advisory channels.
GQG said it expected strong risk-adjusted returns over the long-term, in combination with its distribution capabilities, to position it well in the market. The firm anticipated continued positive new flows in 2024 with a "solid pipeline of potential new FUM".
The source: ASX announcement
