GQG shares lift as FUM growth continues
Make us a preferred source
Make us a preferred source on Google
More news: Shares in GQG Partners lifted 1.8% to $2.22 by 12:55pm AEDT, after the investment boutique followed up last month's strong full-year results with continued growth in February.
The Florida-headquartered fund manager saw funds under management grow 8.3% in February month on month to US$137.5 billion ($209.5 billion) with all its funds notching gains.
GQG Partners FUM grows 8.3% in February
The news: Investment boutique GQG Partners continued to grow its funds under management (FUM) in February with all funds enjoying gains.
The numbers: GQG's FUM grew 8.3% month on month to USD137.5 billion ($209.5 billion) in February. Each of its segments notched gains, with international equity up 7.5% to USD52.9 billion, global equity up 9.1% to USD36 billion, emerging markets equity up 5.7% to USD37.1 billion and US equity up 18.6% to USD11.5 billion.
GQG reported net inflows for the year to 29 February of USD3 billion.
The context: The Florida-headquartered fund manager's FUM update follows the release of its full-year results last month, which saw GQG shares make intraday gains of more than 7% on the ASX.
The investment management company, which hiked its Q4 dividend as it reported a year-on-year FUM rise of 37% in February, said that its performance was buoyed by "very attractive" fees relative to its competitors.
The source: ASX announcement
