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Highlights

  • GQG is a global boutique asset management firm focused on active equity portfolios
  • At the end of FY23, the company’s FUM stood at USD 120.6 billion
  • Jain (Rajiv) has highest stake in GQG with a shareholding of approximately 68.76%

GQG Partners Inc (ASX: GQG) is an ASX-listed international boutique asset management company which is focused on active equity portfolios. Founded in 2016, the company is headquartered in the US. The company has created a client base with several prominent institutions and crucial wholesale platforms globally.

GQG reported 37% YoY increase in funds under management (FUM) of USD 120.6 billion in the financial year 2023 (FY23).

In FY23, the company recorded an 18.5% YoY increase in net revenue to USD 517.5 million and an 18.7% YoY increase in net income after tax to USD 282.5 million. During the reported period, dividend per share grew by 17.3% YoY to 0.091 cents.

Top 10 shareholders of GQG

The top 10 shareholders of GQG have around 81.48% shareholding in the company, while the top four have around 79.46% stake. The top two shareholders of GQG are Jain (Rajiv) and Carver (Timothy), with a shareholding of ~68.76% and ~5.58%, respectively.

Recent business update

Through an ASX-filing dated 7 February 2024, the company shared a FUM update. As of 31 January 2024, the company recorded USD 1.9 billion of net inflows, for the year-to-date. At January 2024 end, total FUM was USD 127 billion, compared to USD 120.6 billion at December 2023 end.

Outlook

The company expects to witness less margin pressure relative to peers with higher average management fees. The focus is on launching new strategies and expanding geographically.

The company is committed to grow its FUM in the current investment strategies, acquiring talent through mergers and acquisition and attracting new talent.

In 2024, the company intends to launch a new office in Abu Dhabi and also plans to re-open the emerging markets strategy for minimum USD 5 billion in new institutional assets.

Share performance of GQG

GQG shares closed 0.938% higher at AUD 2.15 apiece on 26 February 2024. Including today’s gain, GQG share price has increased by almost 47.26% in the last 12 months and has surged by nearly 15% in the last one month.

The 52-week high of GQG is AUD 2.34 and the 52-week low is AUD 1.235.

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, and currency, is 26 February 2024. The reference data in this report has been partly sourced from REFINITIV.