Highlights

  • Closing FUM increased 7.1% to USD 163.9 billion in FY2025.
  • Net income rose 7.3% to USD 463.3 million, with EPS at USD 0.16.
  • Shares traded at AUD 1.67, up 3.73% on the day but down 29.54% over 12 months.

GQG Partners Inc. (ASX: GQG) shares were trading at AUD 1.67 on 13 February 2026, up 3.73% for the session, as investors responded to the company’s full-year results and dividend announcement. Despite the daily gain, the stock remains down 29.54% over the past 12 months. Based on declared dividends, GQG is currently offering a dividend yield of approximately 10.04%, positioning income returns as a key focus for shareholders amid recent share price volatility.

FUM Rises Despite Net Outflows

GQG closed FY2025 with FUM of USD 163.9 billion, up 7.1% from USD 153.0 billion at the end of 2024. Average FUM for the year increased 10.8% to USD 164.3 billion.

The uplift in FUM was driven by positive investment performance of USD 14.8 billion, partially offset by net outflows of USD 3.9 billion during the year. The company reached a month-end record high FUM of USD 172.4 billion as at 30 June 2025 before moderating in the second half.

Since listing in October 2021, GQG has grown FUM by more than 81%, according to the company.

Revenue and Profit Edge Higher

Net revenue rose 6.3% year-on-year to USD 808.3 million, supported by higher average FUM. Management fees benefited from asset growth, although fee realisation declined from 49.6 basis points to 48.4 basis points due to changes in strategy and vehicle mix.

Performance fees fell to USD 13.8 million in 2025 from USD 24.6 million in 2024.

Net operating income increased 7.6% to USD 622.5 million, while net income attributable to GQG Partners Inc. climbed 7.3% to USD 463.3 million. Distributable earnings were USD 477.7 million, up 6.7% compared with the previous year.

Diluted earnings per share rose to USD 0.16 from USD 0.15 in FY2024. Dividends declared for the full year totalled USD 0.1469 per share, up 7.5% year-on-year.

The company reported an operating margin of 77.0% in 2025, compared with 76.1% in 2024.

Strategy Breakdown and Investment Returns

At year-end, FUM was diversified across strategies:

  • International Equity: USD 71.4 billion
  • Emerging Markets Equity: USD 40.8 billion
  • Global Equity: USD 36.8 billion
  • US Equity: USD 14.9 billion

Since inception, the International Equity strategy delivered a composite net return of 10.3%, compared with 6.6% for the MSCI ACWI ex USA Index (Net). The Global Equity strategy returned 11.7% net versus 10.2% for the MSCI ACWI Index (Net), while US Equity posted 13.8% net compared with 13.5% for the S&P 500.

Dividend Details

The board declared a 4Q25 dividend of USD 0.0365 per share, representing 90% of fourth-quarter distributable earnings.

Key dates:

  • Ex-date: 18 February 2026
  • Record date: 19 February 2026
  • Payment date: 26 March 2026

GQG Partners delivered higher revenue, earnings growth and an increased dividend for FY2025, supported by rising average FUM. While positive investment performance contributed to asset growth, net outflows and lower performance fees weighed on overall inflows. The share price recorded a gain on results day but remains lower compared with a year earlier.

F&Q

  1. What was GQG Partners’ FUM at the end of FY2025?
    Closing FUM was USD 163.9 billion as at 31 December 2025.
  2. How much dividend did GQG declare for 4Q25?
    The company declared a dividend of USD 0.0365 per share for the fourth quarter.
  3. How has the share price performed?
    Shares were trading at AUD 1.67, up 3.73% on the day, but down 29.54% over the past year.