GQG Partners has been on our radar for some time, with weak performance weighing on shares in recent months. This morning, they reported FUM numbers for July, showing net outflows of $1.4bn including the loss of a $1.0bn institutional mandate. FUM ended the period at $166.6bn. The market has sold the stock down 12%. We view this as an attractive risk/reward buying opportunity given we held the expectation for outflows. We are starting with a small 3% target.
MM are buying GQG in both the Growth & Income Portfolios, targeting a 3% weighting around $1.80
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