Hi
@InvestorXXIJust to give you some perspective for the month so far in USD terms, GQG Emerging Market FUM performance is currently -2.24% of $US25.5B against Magellan Global Equity FUM performance of -5.17% of $65B. GQG Emerging Markets is the worst performer of the GQG stable this month so far due to holding of SBER.
GQG Emerging Markets (main Russian Holdings in this fund)
Magellan Global Equity (assumes no restructuring of portfolio with new CIO in place)
In addition to this, GQG's end of December Russian holdings were 15.1% of GQG EM FUM, this was lowered by the end of January to 8.22%. During December and January GQG FUM performance held steady.
Watch for February FUM announcement, GQG will likely have lowered even further. GQG is an active manager of its portfolio holdings and manages accordingly - just like rotating out of NVDA in December.
Note, it was a public holiday in US Markets last night. Russian news will likely impact overnight.
The question to consider in terms of the new Russian War is, how long will it last? The Chechnyan War lasted ten years between 1999 and 2009. There will be some market disturbance, but will grow no matter the duration.
Best of Luck
Lost
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