GQG Partners has reported net inflows of US$3 billion during the December quarter, bringing its inflows for the first half of the financial year to US$6.2 billion.
This exceeded a forecast of US$3.9 billion of net inflows provided in the firm’s prospectus in early October ahead of its listing on the ASX later that month.
GQG had US$91.2 billion in funds under management as of the end of 2021, including US$32.3 billion for international equity, US$27.3 billion for global equity, US$25.6 billion for emerging markets equity and US$6 billion for US equity.
“We continue to see business momentum across multiple geographies and channels,” GQG said in a filing with the ASX.
The firm said it had established three new sub-advisory relationships during the quarter, including with a US mutual fund for its US equity strategy, with its US equity strategy as a manager in a new multi-manager ETF and in Australia for its global dividend income strategy.
“We are particularly pleased to see our more recently launched strategies and products continue to achieve strong adoption, including our US Equity UCITS vehicle,” said GQG.
The firm also saw “healthy growth” in its existing US mutual fund sub-advisory relationships, including the GS GQG Partner International Opportunities Fund.
GQG noted that management fees continued to comprise the vast majority of its net revenue rather than performance fees.
“As the largest shareholders in GQG, our management team remains highly aligned with all shareholders, and acutely focused on and committed to GQG’s future,” the firm said.
GQG ranked as the biggest listing on the ASX in 2021 after raising $1.19 billion at $2 per share for a market cap of $5.91 billion.
