GQG Partners US Quality Value Fund Investor Shares · NASDAQ:GQHPX
GQG Partners US Quality Value Fund Investor Shares — GQG Partners — FY2024 Earnings Presentation
35 slides from GQG Partners US Quality Value Fund Investor Shares's earnings presentation, February 2025
Slide 1: Full Year Results
Full Year Results GQG Partners For the full year ended 31 December 2024 RAJIV JAIN TIM CARVER MELODIE ZAKALUK, CPA STEVE FORD, CAIA CHARLES FALCK Chairman and CIO Chief Executive Officer Chief Financial Officer Managing Director, Chief Operating Officer Global Distribution AS AT 31 DECEMBER 2O24 202
Slide 2: Financial Highlights
FINANCIAL HIGHLIGHTS For the Full Year Ended 31 December 2024 Funds Under Management* Call Agenda — Net flows of US$20.2 billion — Business Overview — Funds Under Management of US$153.0 billion, an increase of 26.9% from 2023 full year results — Tim Carver, CEO — Financial Results Net Revenue — Melo
Slide 3: Business Overview Highlights
BUSINESS OVERVIEW Highlights 2024 Full Year Highlights (As at 31 December 2024, unless otherwise specified) Performance — All four primary strategies have outperformed their respective benchmarks on a 3-year, 5-year, and 10-year basis — Top quintile 5-year alpha and Sharpe ratio for the four primary
Slide 4: Performance Overview: Strategy Level Performance
PERFORMANCE OVERVIEW Strategy Level Performance as at 31 December 2024 Global Equity International Equity 25 12 20.17 20 17.49 9.31 8.43 Total Return % Total Return % 9 15 13.22 12.92 11.15 5.77 5.53 10.06 9.04 6 4.74 4.38 10 4.10 5.44 5 3 0.82 0 0 1 year 3 year 5 years ITD 1-Oct-14 1 year 3 year 5
Slide 5: Performance Overview: Rolling Performance
PERFORMANCE OVERVIEW Rolling Performance as at 31 December 2024 Global Rolling 5-Year Return (net of fees) International Rolling 5-Year Return (net of fees) 20 20 GQG Partners Global Equity GQG Partners International Equity 5-Year Total Return % 5-Year Total Return % 15 - Average 5-Year excess retur
Slide 6: Performance Overview: Risk-Adjusted Performance
PERFORMANCE OVERVIEW Risk-Adjusted Performance Global Equity Risk-Return % International Equity Risk-Return % Since GQG Inception 1-June-2016 Since GQG Inception 1-June-2016 18 14 16 GQG Partners 12 14 Global Equity 10 GQG Partners eVestment ACWI ex USA eVestment Global Large Returns Returns Interna
Slide 7: Operational Value Add
BUSINESS OVERVIEW Operational Value Add Estimated 2024 Impact of Investment Returns and Net Flows on Ending FUM (US$ Billions) Since Inception Impacts on GQG Partners FUM1 2024 2024 Total Value Added 1-June-2016 Starting FUM $120.6 $0.0 $20.7 $20.2 Net Flows +$20.2 +$105.6 Capital Appreciation +$12.
Slide 8: Update on GQG Private Capital Solutions
STRATEGIC INITIATIVES Update on GQG Private Capital Solutions We believe PCS is uniquely positioned within the GP Stakes industry A team of Working within a robust Successful launch of PCS Optimistic outlook for 2025 industry pioneers infrastructure, which includes business Pipeline of potential dea
Slide 9: Update on Abu Dhabi (ADGM) Office
STRATEGIC INITIATIVES Update on Abu Dhabi (ADGM) Office We believe that having fully licensed and regulated investment and operational capabilities in the region through our affiliate, GQG Partners Ltd, gives us a strategic advantage Access to Global Talent Growth Opportunities Operational Efficienc
Slide 10: Renaming Quality Value Funds
STRATEGIC INITIATIVES Renaming Quality Value Funds We renamed our Quality Dividend Income strategies to Quality Value to more clearly convey the value nature of the strategies Driven by client Larger addressable Highly competitive Fee reduction for ultra- feedback market value vs performance to peer
Slide 11: Year-End Financial Results
Year-End Financial Results MELODIE ZAKALUK, CPA Chief Financial Officer AS AT 31 DECEMBER 2O24 11
Slide 12: Financial Results Highlights
FINANCIAL RESULTS Highlights Full Year Results of 2024 vs. 2023 (Dollars in US$ millions, except per share data) FY24 FY23 FY24 FY23 Closing FUM† (US$ billions) 153.0 120.6 Distributable earnings (US$ millions) 447.9 297.9 Average FUM† (US$ billions) 148.2 101.9 Dividends paid (US$ millions)* 370.2
Slide 13: Consolidated Statements of Operations
FINANCIAL RESULTS Consolidated Statements of Operations Consolidated Statements of Operations Commentary Year over Year Comparison – The PCS Master Fund was deconsolidated effective 19 December 2024. The Consolidated Statement of Operations for the year ended 31 December 2024 includes PCS Master Fun
Slide 14: Deconsolidation of PCS Master Fund Financials
FINANCIAL RESULTS Deconsolidation of PCS Master Fund Financials GQG Group Consolidating Statements of Operations Commentary For the year ended 31 December 2024 – The PCS Master Fund was consolidated with GQG Inc. for the period from 17 May 2024 to 19 December 2024, in accordance with US Generally Ac
Slide 15: Consolidated Statements of Financial Condition
FINANCIAL RESULTS Consolidated Statements of Financial Condition Consolidated Statements of Financial Condition Commentary as at 31 December 2024 and 2023 – GQG continues to have a strong balance sheet, with total assets as of 31 December 2024 of $463.9 million. US$M 31-Dec-24 31-Dec-23 Balance Shee
Slide 16: Consolidated Statements of Cash Flows
FINANCIAL RESULTS Consolidated Statements of Cash Flows Consolidated Statements of Cash Flows Commentary For the years ended 31 December 2024 and 2023 – The primary use of GQG’s cash continues to be working capital and dividends. Dividends are based US$M FY24 FY23 upon distributable earnings calcula
Slide 17: Distribution Update
Distribution Update STEVE FORD, CAIA Managing Director, Global Distribution AS AT 31 DECEMBER 2O24 17
Slide 18: GQG Strategies Stand Apart Versus Peers on Key Metrics
PERFORMANCE OVERVIEW GQG Strategies Stand Apart Versus Peers on Key Metrics Compared to their stated benchmarks, only GQG strategies meet the following criteria: eVestment Screening Criteria Strategies Meeting Cumulative Criteria Equity, Long-Only, Actively Managed 6,641 strategies + Long-Term Track
Slide 19: Distribution Overview: Funds Under Management
DISTRIBUTION OVERVIEW Funds Under Management† FUM by Strategy (US$ Billions) FUM by Channel & Region 57.2 (US$ Billions) 15.4 3.2 56.2 38.8 40.3 53.6 8.5 16.7 125.9 43.2 Institutional Wholesale Sub-Advisory Americas Australia EMEA Other APAC International Global Emerging Markets US Equity 2024 Net F
Slide 20: Distribution Overview: Rollforward of FUM
DISTRIBUTION OVERVIEW Funds Under Management† Rollforward of FUM (US$ Billions) BY YEAR 2019 2020 2021 2022 2023 2024 Beginning FUM 17.6 30.7 67.0 91.2 88.0 120.6 Net Flows 7.6 25.3 17.1 8.0 10.2 20.2 Performance 5.5 11.0 7.1 -11.2 22.4 12.2 Anticipated Drivers of Fund Flows Ending FUM 30.7 67.0 91.
Slide 21: 13-Month North America Net Flows
13-MONTH NORTH AMERICA NET FLOWS Net Flows By Strategy $3,000 $2,497 $2,500 $2,311 $2,054 $2,021 $1,811 $1,886 $2,000 $1,729 $1,716 $1,402 $1,335 $1,500 USD Millions $1,000 $733 -$383 $500 $238 US Equity International Equity $0 Global Equity -$500 Emerging Markets -$1,000 Total Dec-23 Jan-24 Feb-24
Slide 22: Wholesale Distribution
DISTRIBUTION OVERVIEW Wholesale Distribution US/Canada Mutual Funds Wholesale Channel Net Flows By Vehicle (US$ Billions) — Record year for US Mutual Funds with US$6.8 billion net flows, a 79% increase from 2023 net flows 12.4 — Retail SMA provided new growth with over US$5 billion FUM, a 292% incre
Slide 23: Australian Distribution Success
AUSTRALIAN DISTRIBUTION SUCCESS 3Y Net 3Y Net Flows Total FUM Global Equity Fund (Australia) Net Flows (A$ millions) Global Equity Funds (Australia) Flows % of (A$ Millions) (A$ Millions) Total FUM $1,500 $1,348 1 GQG Partners Global Equity Fund $2,655 $4,781 56% 2 JANA High Alpha Global Share Trust
Slide 24: Quality Value Funds
Quality Value Funds AS AT 31 DECEMBER 2O24 24
Slide 25: Quality is a Primary Feature of GQG Strategies
INVESTING OVERVIEW Quality is a Primary Feature of GQG Strategies The “cheapest” companies within our Quality universe, as measured by traditional valuation multiples (P/E, P/B, Dividend Yield), have consistently fallen within the value style of investing. Compared to the traditional value-style uni
Slide 26: Total Addressable Market: Value vs Dividend Strategies
TOTAL ADDRESSABLE MARKET eVestment Active, Long-Only, Equity Universe: Value vs Dividend Strategies FUM FUM (US$ Billions) Style/Region # Strategies (US$ Billions) $5,000 Value 1,648 $4,636 $4,636 - Value Global 332 $820 $4,000 - Value Intl 194 $553 - Value US 1,040 $3,142 $3,000 - Value EM 82 $121
Slide 27: Total Addressable Market: Value vs Growth Strategies
TOTAL ADDRESSABLE MARKET eVestment Active, Long-Only, Equity Universe: Value vs Growth Strategies FUM FUM (US$ Billions) Style/Region # Strategies (US$ Billions) $7,000 Value 1,648 $4,636 $6,000 - Value Global 332 $820 $5,948 $5,000 - Value Intl 194 $553 - Value US 1,040 $3,142 $4,000 $4,636 - Value
Slide 28: Quality Value Peer Review: Global Value
QUALITY VALUE PEER REVIEW Global Value: Top 10 Peers by L3Y Net Flows 3Y Net Flows 3Y 3Y Risk-Return % Global Value (US$ Millions) Return Std Dev 9 GQG Global Quality Value $33 6.3 12.9 8 MSCI ACWI Value - 4.6 15.2 7 Global Value Peer $6,873 5.1 19.9 GQG Global Value Peer $6,016 7.6 15.3 6 3-Year Re
Slide 29: Quality Value Peer Review: International Value
QUALITY VALUE PEER REVIEW International Value: Top 10 Peers by L3Y Net Flows 3Y Net Flows 3Y 3Y Risk-Return % International Value (US$ Millions) Return Std Dev 8 GQG Intl Quality Value $322 4.6 13.1 MSCI ACWI ex USA Value - 4.4 15.4 7 International Value Peer $1,527 6.4 15.8 6 International Value Pe
Slide 30: Quality Value Peer Review: US Value
QUALITY VALUE PEER REVIEW US Value: Top 10 Peers by L3Y Net Flows 3Y Net Flows 3Y 3Y Risk-Return % US Value (US$ Millions) Return Std Dev 12 GQG US Quality Value $84 7.5 13.7 MSCI USA Value - 4.6 16.1 10 US Value Peer $23,381 3.3 14.4 US Value Peer $22,251 10.3 15.8 8 GQG 3-Year Return US Value Peer
Slide 31: Investment Environment
Investment Environment RAJIV JAIN Chairman & Chief Investment Officer AS AT 31 DECEMBER 2O24 31
Slide 32: Conclusion
CONCLUSION We are passionate about investing We will always endeavour to grow, learn, adapt, and attain a competitive advantage in our markets We are the caretakers of peoples’ futures We strive to deliver sustainable high-performance outcomes with lower absolute volatility through many market cycle
Slide 33: Questions
QUESTIONS Management Team RAJIV JAIN TIM CARVER MELODIE ZAKALUK, CPA STEVE FORD, CAIA CHARLES FALCK Chairman and CIO Chief Executive Officer Chief Financial Officer Managing Director, Chief Operating Officer Global Distribution AS AT 31 DECEMBER 2O24 33
Slide 34: Important Information
IMPORTANT INFORMATION The information provided in this document does not constitute investment advice and no investment decision should be made based on it. Neither the information contained in this document or in any accompanying oral presentation is a recommendation to follow any strategy or alloc
Slide 35: Important Information: Index Definitions
IMPORTANT INFORMATION MSCI All Country World (Net) Index (MSCI ACWI) MSCI All Country World ex-USA (Net) Index (MSCI ACWI ex USA) The MSCI All Country World (Net) Index (MSCI ACWI) captures large and mid-cap representation across 23 developed and 24 emerging markets countries. Developed countries Au