Strong inflows help boost GQG FUM in August
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The news: Investment manager GQG Partners lifted its funds under management in August on the back of strong inflows in its international and US funds.
The numbers: Funds under management were up by USD4.5 billion ($6.75 billion) or 2.9% to USD160.8 billion. Year-to-date net inflows at the end of August totalled USD15.2 billion.
The Florida-based firm’s ASX-listed shares are up nearly 47% to $2.48 so far in 2024.
The context: The investment firm saw an increase in each of its segments during August. But the gains were concentrated in international equity, which was up 3.6% to USD62.9 billion, and US equity, which went up 7.3% to USD14.6 billion.
GQG, which is headquartered in Fort Lauderdale with offices in London and Sydney, last month said its new office in Abu Dhabi had become operational.
The source: ASX announcement
