GQG Partners funds under management edges up 0.45% in July
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The news: Investment manager GQG Partners lifted its funds under management (FUM) slightly in July, with three of its four funds recording month-on-month gains.
The numbers: Total FUM was up USD700 million ($1.073 billion), or 0.45%, to USD156.3 billion. Year-to-date net inflows at the end of July totalled USD13.9 billion.
International equity was up 1% to USD60.7 billion, emerging markets equity grew 0.47% to USD43.2 billion and US equity added 1.49% to USD13.6 billion in July.
Global equity lowered 0.77% to USD38.8 billion.
The context: Goldman Sachs and Macquarie lifted their estimates and price targets for GQG last month after the Florida-based company added 3.7% to its FUM in June.
Shares in the ASX-listed investment manager have jumped more than 50% since the turn of the year.
The source: ASX announcement
