The GQG Partners Inc (ASX: GQG) share price is down 0.7% after its latest monthly update.
GQG is a fund manager that’s from the US with global operations.
June 2025 update
The funds management company revealed it experienced net inflows of US$0.7 billion for the month of June and US$3.4 billion for the quarter ending 30 June 2025.
Its funds under management (FUM) as at 30 June 2025 was US$172.4 billion, which was a record high.
GQG noted that as of 30 June 2025, its net inflows for the year to date had been US$8 billion, compared to US$11.1 billion for the same period in 2024.
Performance commentary
GQG said it has continued to position its portfolios defensively. Due to that, it saw relative underperformance across all of its strategies compared to their respective benchmarks during the quarter.
The fund manager said it’s a steward of capital and, due to valuations, corporate earnings data and macroeconomic volatility, it has continued to be defensively positioned with the goal of protecting client capital.
While GQG is experiencing short-term relative underperformance, it reaffirmed this portfolio position.
It noted that while the second quarter net flows were strong, it recognises that relative underperformance can be a headwind to future net flows.
Is the GQG share price a buy?
For GQG, a key driver is the growth of FUM. The FUM rose by almost US$4 billion during June, while a lot of the rise driven by positive market gains for its portfolio.
Shareholders and investors in the funds shouldn’t expect GQG to outperform every month, every quarter or even every year.
But, the investment team have a long track record of outperformance and I’m hopeful that can continue.
There is a lot of uncertainty in the global economy right now, yet share prices are close to record highs, so I think GQG is very reasonable to be a little cautious.
I think it’s one of the leading ASX dividend shares that Aussies can buy right now.
