GQG Partners, Inc. · ASX:GQG
GQG Partners — H1 2024 Earnings Presentation
29 slides from GQG Partners's earnings presentation, Aug 16, 2024
Slide 1: Half Year Results
For personal use only Half Year Results GQG Partners | The Art of Investing For the half year ended 30 June 2024 RAJIV JAIN TIM CARVER MELODIE ZAKALUK STEVE FORD CHARLES FALCK Chairman and CIO Chief Executive Officer Chief Financial Officer Managing Director, Chief Operating Officer Global Distribut
Slide 2: Financial Highlights
FINANCIAL HIGHLIGHTS For the Half Year Ended 30 June 2024 Funds Under Management Call Agenda — Net flows of US$11.1 billion — Business Overview For personal use only — Funds Under Management of US$155.6 billion, an increase of 49.5% — Tim Carver, CEO from 2023 half year results — Charles Falck, COO
Slide 3: Performance Overview
PERFORMANCE OVERVIEW Strategy Level Performance as at 30 June 2024 36.96 Global Equity International Equity 40 40 29.68 Total Return % Total Return % 30 For personal use only 30 19.38 20 15.74 13.90 20 13.58 11.62 12.20 10.76 8.86 10.98 8.92 10 5.43 10 5.55 4.63 0.46 0 0 1 year 3 year 5 years ITD 1-
Slide 4: Business Overview: Operational Value Add
BUSINESS OVERVIEW Operational Value Add Estimated 1H24 Impact of Investment Returns and Net Flows on Ending FUM (US$ Billions) For personal use only Since Inception Impacts on GQG Partners FUM1 2024 2024 Total Value Added 1-June-2016 Starting FUM $120.6 $0.0 $25.9 Net Flows2 +$11.1 +$96.3 $14.8 Capi
Slide 5: 2024 Half Year Highlights
BUSINESS OVERVIEW Highlights 2024 Half Year Highlights (As at 30 June 2024, unless otherwise specified) Performance For personal use only — All strategies have outperformed their respective benchmarks on a 3-year and 5-year basis — Top decile 5-year alpha and Sharpe ratio for the four primary strate
Slide 6: Strategic Initiatives: GQG Private Capital Solutions
STRATEGIC INITIATIVES GQG Private Capital Solutions GQG has entered the private markets seeking to diversify its business — Private markets are a growing part of the asset management industry — We’ve brought in a deeply experienced team that will operate independently from our core investment team F
Slide 7: Strategic Initiatives: Abu Dhabi Office
STRATEGIC INITIATIVES Abu Dhabi Office GQG Partners Ltd is a wholly owned subsidiary of GQG Partners LLC. GQG Partners Ltd received authorization from the Financial Services Regulatory Authority (FSRA) to conduct investment management activities on March 8, 2024: For personal use only Global Talent
Slide 8: Half Year Financial Results
For personal use only Half Year Financial Results AS AT 30 JUNE 2O24 8
Slide 9: Financial Results Highlights
FINANCIAL RESULTS Highlights Half Year Actual Results of 2024 vs. 2023 (Dollars in US$ millions, except per share data) HY24 HY23 HY24 HY23 For personal use only Closing FUM† (US$ billions) 155.6 104.1 Distributable earnings (US$ millions) 209.9 136.6 Average FUM† (US$ billions) 139.5 95.2 Dividends
Slide 10: Consolidated Statements of Operations
FINANCIAL RESULTS Consolidated Statements of Operations Consolidated Statements of Operations Commentary Half Year Comparison — Net revenue was $363.1 million, an increase of 53.1% compared to the half year ended 30 June 2023. Net management fees increased primarily driven by growth in average FUM†
Slide 11: Consolidation of PCS Master Fund Financials
FINANCIAL RESULTS Consolidation of PCS Master Fund Financials GQG Group Consolidating Statement of Operations Commentary For the six months ended 30 June 2024 PCS Master Fund is fully consolidated with GQG Group as at 30 June 2024. For personal use only GQG Group (Excluding PCS Master Fund Income St
Slide 12: Consolidated Statements of Financial Condition
FINANCIAL RESULTS Consolidated Statements of Financial Condition Commentary Consolidated Statements of Financial Condition — GQG continues to have a strong balance sheet, with total assets as at 30 June 2024 of $564.8 as at 30 June 2024 and 31 December 2023 million. — Financial results in the curren
Slide 13: Consolidation of PCS Master Fund Financials
FINANCIAL RESULTS Consolidation of PCS Master Fund Financials GQG Group Consolidating Statement of Financial Condition Commentary as at 30 June 2024 PCS Master Fund is fully consolidated with GQG Group as at 30 June 2024. GQG Group (Excluding PCS Intercompany GQG Group For personal use only PCS Mast
Slide 14: Consolidated Statements of Cash Flows
FINANCIAL RESULTS Consolidated Statements of Cash Flows Consolidated Statements of Cash Flows Commentary for the Six Months Ended 30 June 2024 and 2023 — The primary use of GQG’s cash continues to be working capital and dividends. Dividends US$M 1H24 1H23 are based upon distributable earnings calcul
Slide 15: Performance and Distribution Update
For personal use only Performance and Distribution Update AS AT 30 JUNE 2O24 15
Slide 16: Risk-Adjusted Performance: Leading Indicator
PERFORMANCE OVERVIEW Risk-Adjusted Performance: Leading Indicator 40 20 40 20 GQG Partners GQG Partners Global Equity International Equity For personal use only 20 10 20 10 0 0 0 0 1-YEAR ITD (1-OCT-14) 1-YEAR ITD (1-DEC-14) AS AT 30 JUNE 2024 AS AT 30 JUNE 2024 RETURN RANK RETURN RANK RETURN RANK R
Slide 17: Rolling Performance as at June 2024
PERFORMANCE OVERVIEW Rolling Performance as at 30 June 2024 International Rolling 5-Year Return (net of fees) Global Rolling 5-Year Return (net of fees) 20 20 GQG Partners International Equity For personal use only 5-Year Total Return % 15 5-Year Total Return % GQG Partners Global Equity - Average 5
Slide 18: 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 16 GQG Partners For personal use only 15 Global Equity 12 GQG Partners eVestment ACWI ex USA Returns Returns eVestment Glob
Slide 19: Morningstar Ratings
DISTRIBUTION OVERVIEW Morningstar Ratings GQG Partners Open End Fund Ratings as at 30 June 2024 MUTUAL FUNDS - MORNINGSTAR MORNINGSTAR RATING MORNINGSTAR RANK % MORNINGSTAR MEDAL For personal use only GQG Partners Global Quality Equity Fund ★★★★★ 1 Gold GQG Partners Emerging Markets Equity Fund ★★★★
Slide 20: Funds Under Management
DISTRIBUTION OVERVIEW Funds Under Management† FUM by Strategy (US$ Billions) FUM by Channel & Region 60.1 (US$ Billions) 15.9 2.6 For personal use only 43.0 58.0 39.1 58.3 9.6 13.4 127.5 39.3 Institutional Wholesale Sub-Advisory Americas Australia EMEA Other APAC International Global Emerging Market
Slide 21: Funds Under Management: Rollforward
DISTRIBUTION OVERVIEW Funds Under Management† Rollforward of FUM (US$ Billions) BY YEAR 2019 2020 2021 2022 2023 20241H For personal use only Beginning FUM 17.6 30.7 67.0 91.2 88.0 120.6 Net Flows 7.6 25.3 17.1 8.0 10.0 1 11.1 Performance 5.5 11.0 7.1 -11.2 22.6 23.9 Anticipated Drivers of Fund Flow
Slide 22: US Wholesale Distribution
DISTRIBUTION OVERVIEW US Wholesale Distribution National Accounts Top Mutual Fund Families by Net Sales in 2024 $0 $2 $4 $6 $8 $10 $12 $14 — 28 platforms currently offer GQG mutual funds For personal use only Six Circles — 17 EM recommended lists and 9 model placements — 2 global recommended lists P
Slide 23: International Wholesale Distribution
DISTRIBUTION OVERVIEW International Wholesale Distribution UCITS Funds GQG UCITS Funds Wholesale Net Flows (US$ Billions)1 — EM, Global and US Equity passed their 7, 5 and 3-year anniversaries respectively in Q1 2024, 0.5 0.5 leading to them appearing in incrementally more searches. For personal use
Slide 24: eVestment Views: Leading Indicator
DISTRIBUTION OVERVIEW eVestment Views: Leading Indicator EVESTMENT VIEW COUNT AND DISTRIBUTION GQG PARTNERS GQG PARTNERS GQG PARTNERS GQG PARTNERS For personal use only SCORE GLOBAL EQUITY INTERNATIONAL EQUITY EM EQUITY US EQUITY eVestment 1-Year View Count 2,324 1,476 2,278 1,123 eVestment 1-Year V
Slide 25: Investment Environment
For personal use only Investment Environment AS AT 30 JUNE 2O24 25
Slide 26: Conclusion
CONCLUSION We are passionate about investing For personal use only 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 thr
Slide 27: Questions: Management Team
QUESTIONS Management Team For personal use only RAJIV JAIN TIM CARVER MELODIE ZAKALUK STEVE FORD CHARLES FALCK Chairman and CIO Chief Executive Officer Chief Financial Officer Managing Director, Chief Operating Officer Global Distribution AS AT 30 JUNE 2O24 27
Slide 28: 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 29: Important Information
IMPORTANT INFORMATION MSCI All Country World (Net) Index (MSCI ACWI) 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 Australia, Austria, Belgium, Canada, Denmark, Finland, France,