Ann: FUM as at 31 December 2021, page-47

Hi @dannyb54

Suspect we will see share price further slide until the Full Year financial result on February 25. The financials announcement will provide a good insight into how GQG is tracking with $US91.2B in FUM so far against $US92B forecast. It will also show how the lower than forecast AUD/USD will improve the EPS and DPS - there is only about 1c difference between 73c forecast and 72c actual, however being ahead of forecast by almost 6 months will be a contributor to higher growth in financials.

With GQG being ahead of forecasts, I believe this will increase the forecast dividend being paid from 11.5c to 13c on an annual basis (dividends are unfranked as GQG pay no Australian Tax). Following are the dividend yield ranges based on current forecast and potential future increase due to being ahead of forecasts:
1- At 11.5c based on $1.61 share price, we are looking at a 7.14% dividend yield
2- At 13c based on $1.61 share price, we are looking at a 8.07% dividend yield

Assume continued 13% growth, up until 2025 is as follows:
2022- 8.07%
2023- @14.5c, 9%
2024- @16c, 9.96%
2025- @18c, 11.18%

The current market volatility will impact GQG share price somewhat, like all Fund Managers. If we are looking out to 2025 for a return on investment the above rates are what you will get by investing today.

However imagine investing at $1.50, assuming continued 13% growth, up until 2025 is as follows:
2022- 8.66%
2023- @14.5c, 9.67%
2024- @16c, 10.67%
2025- @18c, 12%

Please note, I believe GQG growth will be lumpier and much higher than 13% growth in good years on an annual basis. 13% is based on current market performance.

On another note, GQG's Emerging Market Fund recently reached five years of age and Morningstar rate it as one of the highest in class, see GQG article here:
https://gqgpartners.com/insights/gqg-partners-emerging-markets-equity-fund-celebrates-five-years-top-quartile-performance

Best of Luck
Lost