GQG shares climb on monthly FUM growth
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More news: Shares in GQG Partners lifted at market open after the investment manager reported a rise in funds under management in February, as monthly net inflows reached US$1.1 billion.
GQG shares were up 1.8% to $2.24 at 10:35am AEDT.
GQG Partners posts higher FUM as monthly inflows reach $1.75b
The news: Investment manager GQG Partners reported higher funds under management (FUM) in February, with three of its four segments experiencing growth during the month.
The numbers: Total FUM was up USD100 million ($159 million), or 0.06% to USD160.5 billion by 28 February. Monthly net inflows totalled USD1.1 billion, with year-to-date net inflows at the end of February reaching USD2.8 billion.
International equity was up 2.1% to USD61.9 billion, global equity grew 0.7% to USD41.6 billion and US equity climbed 4.9% to USD19.4 billion. Emerging markets equity shrank 6% to USD37.6 billion.
The context: Shares in the Florida-headquartered fund manager have rallied since mid-January after plunging in December when it outlined outflows of USD200 million in the wake of US government bribery charges against its key portfolio holding Adani Group.
The source: ASX
