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Highlights

  • All-time high FUM of USD 155.6 million recorded in 1HFY24, driven by strong investment performance and inflows.
  • In 1HFY24, the company completed acquisition of Boutique Interest to strengthen private equity business.
  • PCS business was launched in 1HFY24 and also started operations in Abu Dhabi.

GQG Partners Inc (ASX:GQG) is an ASX-listed international boutique asset management company with a client base of several prominent institutions and crucial wholesale platforms globally.

In the recent half, ended 30 June 2024 (1HFY24), GQG achieved all-time high funds under management (FUM) of USD 155.6 million. The rise in FUM was driven by investment performance and inflows into the strategies. During the reported period, positive net inflows stood at USD 11.1 billion.

Meanwhile, in 1HFY24, net revenue jumped 53.14% YoY to USD 363.10 million, net operating income surged by 54.88% YoY to USD 273.20 million and NPAT grew by 56.45% YoY to USD 201.20 million.

The company has made substantial strides over the past five years; for example, GQG’s revenue in 1HFY22 stood at USD 223 million, while in 1HFY24, it reached USD 363 million.

During this period, GQG completed the acquisition of Boutique Interest, which is expected to generate additional revenue and lay the foundation for a dedicated private equity business. Moreover, the company launched its PCS business and began operations in Abu Dhabi in 1HFY24.

Currently, GQG is focusing on private markets to drive business growth. It has also assembled an experienced team that operates independently from its core investment team. Looking ahead, the company expects a reduction in margin pressure, supported by higher average management fees.

Top 10 shareholders of GQG

The top 10 shareholders of GQG have around 81.07% shareholding in the company and highest stake is held by Jain (Rajiv) with a shareholding of nearly 70.11%.

Share performance of GQG

GQG shares closed 2.40% higher at AUD 2.56 apiece on 8 October 2024. In the past one year, GQG’s share price has increased by whopping 84.17% and in the last three months, it has decreased by almost 11.72%.

52-week high of GQG is AUD 3.11, recorded on 24 July 2024 and 52-week low is AUD 1.285, recorded on 1 November 2023.

GQG Daily Technical Chart, Source: REFINITIV

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 08 October 2024. The reference data in this report has been partly sourced from REFINITIV.