GQG Partners’ (ASX:GQG) FUM declines in June, shares fall

July 08, 2022 04:22 PM AEST | By Bhawna Gupta

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GQG Partners’ (ASX:GQG) FUM declines in June, shares fall — Image source: atori | Megapixl.com

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Highlights

GQG reported FUM of US$86.7 billion as of 30 June 2022.

The company's major net income comes from management fees.

GQG Partners Inc. (ASX:GQG) is one of the largest fund managers on ASX and it has a current market capitalisation of AU$3.95 billion.

Today (8 July 2022), GQG reported that it has funds under management (FUM) of US$86.7 billion as of 30 June 2022. The FUM decreased a little over 8% as compared to US$94.6 billion recorded on 31 May 2022.

Shares of GQG Partners have been trading in the red after the announcement. The shares closed trading at AU$1.29 per share, down 4.10% on ASX.

GQG’s major net income comes from management fees rather than performance fees. As a result, adjustments to the FUM may significantly affect revenue, net profit after tax (NPAT), and cash flow. Due to the company's commitment to paying dividends of 90% of its distributable earnings, the FUM also has an impact on the dividend.

According to GQG Partners:

Image Source: © 2022 Kalkine Media ®
Data Source- Company announcement dated 08 July 2022

How is GQG as a company?

GQG Partners, a subsidiary of QVFT LLC, is a boutique asset management firm. It manages equities portfolios for investors, such as pension funds, sovereign funds, wealth management companies, and other financial organisations. GQG Partners was established in 2016 and has its main office in Fort Lauderdale, Florida.

Around 18% stake in GQG Partners is held by the general public, according to a media report.

GQG share price has fallen around 27% on a YTD basis. Since its listing on ASX on 26 October 2021, the company’s share price has decreased by about 34%.

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