Investment management firm GQG Partners saw its funds under management fall by US$2.2 billion in December 2025, as net outflows for the year more than doubled.
As of Dec. 31, 2025, GQG's FUM stood at US$163.9 billion, down from US$166.1 billion at the end of November 2025.
Despite the decline, the firm finished the year above the US$153 billion recorded at the end of December 2024, thanks to strong overall investment performance offsetting outflows.
Net outflows reached US$2.1 billion in December 2025, bringing total outflows for the year to US$3.9 billion.
Investment performance for the month posted a US$100 million loss, while gains for the year totaled US$14.8 billion.
GQG attributed the relative underperformance across its strategies to its defensive positioning through year-end, aimed at protecting client assets amid elevated valuations, weakening fundamentals, and macroeconomic uncertainty.
The firm also noted that management fees, rather than performance fees, make up the majority of its net revenue.