Contrarianism often comes at a cost, and ASX-listed fund manager GQG is finding that out the hard way.
The Florida-based global equities manager revealed on Tuesday that it suffered USD2.1 billion ($3.13 billion) in net outflows during December, sending its stock tumbling 8.64%.
GQG’s funds under management have been steadily falling since June 2025, following a major contrarian bet against the market’s biggest theme — the AI boom — which dragged on its performance for much of the year.
In August, GQG chief investment officer Rajiv Jain told investors he believed the AI bubble was close to unravelling and that the “reversal is gonna be vicious”.
