ASX-listed GQG Partners jumps on 'solid' June quarter net flows

GQG Partners

10/07/2023 05:00

(Adds analysts quotes, share volumes)
    ** Shares of ASX-listed fund manager GQG Partners  GQG.AX 
rise as much as 6.5% to A$1.56
    ** GQG says funds under management at June-end was $104.10
bln, vs $98.50 bln at May-end
        ** Adds, co recorded net flows of $1.2 bln in the June
quarter, which brokerage Ord Minnett calls a "solid outcome" in
a volatile macro environment 
        ** Brokerage says despite GQG's strong longer term
investment performance relative to peers, stock remains
inexpensive 
  
        ** GQG, other investors bought nearly $1 bln of
additional stake in Adani group of companies  ADEL.NS   ADNA.NS 
late-June, Economic Times 
    reported
    
        ** Also, 
    "meaningfully increased" position
     in Nvidia  NVDA.O , CIO says in June  
        ** About 5.7 mln shares change hands, vs 30-day average
volume of ~931,000 shares
  
    ** Stock up 5% this year, as of last close

 (Reporting by Harish Sridharan and Rishav Chatterjee in
Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))