GQG Partners has reported its funds under management (FUM), as at 31 January 2024, stood at US$127 billion, a record high for the firm, up from US$120.6 billion at the end of last year.
The firm also posted net inflows of US$1.9 billion so far this year.
Breaking down its FUM, GQG reported increases across all its equity categories. International equity came out on top at US$49.2 billion at the end of January, up from US$46.5 billion at the end of December.
Continuing the trend, US equity rose to US$9.7 billion from US$9.3 billion, while emerging markets equity gained US$1.5 billion to US$35.1 billion.
Meanwhile, global equity grew from US$31.2 billion to US$33 billion during the same period.
In a previous announcement, GQG said it recorded net inflows of US$1.8 billion in the quarter ended December 2023, taking total new inflows for the year to US$9.9 billion.
At the time, the global investment boutique said it expected to be among the top firms in net fund inflows for active equity managers, both in Australia and the US, on a full-year basis, as measured by leading industry benchmarking firms.
“We are pleased to have again delivered for our clients and shareholders this year,” GQG stated in an ASX announcement in December.
“We expect continued business momentum in 2024 and begin the year with a promising pipeline for potential new business.
“We believe our strong risk-adjusted returns in 2023 – and over the longer term – in combination with our global, diversified distribution capabilities, position us well in the market.”
As in previous periods, the firm’s management fees continued to make up the bulk of its net revenue compared to performance fees at the end of 2023.
“Our management team remains highly aligned with all shareholders, has significant exposure to our investment performance, and is acutely focused on and committed to the future of GQG Partners,” the ASX statement noted.
As part of its half-year results last year, GQG reported an increase in funds under management of more than 20 per cent.
It experienced US$6.2 billion of positive net flows during the first six months of the year and noted that it averaged just over US$1 billion in net flows per month in the first half, which it said was achieved despite “a difficult industry environment”.
