Hi @lostI tend to look at performance on a quarter by quarter...

Hi @lost

I tend to look at performance on a quarter by quarter basis. I find GQG's quarterly updates to be very informative , the last one was called 'Gradually, then suddenly' (https://gqgpartners.com/sites/default/files/gqgpartners3q2021commentary_ie.pdf), is worth a read in my opinion.


The underlying holdings and their weightings change more frequently than i'm used to with other managers due to their more adaptive approach. I have confidence that they can achieve their 200-300bp outperformance over time.

Since 30.sept to 17 Dec.

GQG Emerging (GQGIX) -3.53%
iShares Emerging index (EEM) -4.41%

GQG International (GSIMX) -3.42%
iShares Ex-US MSCI (ACWX) -1.99%

GQG Global (GQRPX) +2.02%
iShares MSCI World (URTH) +3.87%

GQG US Equity +3.18%
SP500 +7.27%

Anything can happen over a couple of months, Emerging outperforming, 2 slightly lagging with SP500 performing very well outpacing US strategy in the short term.

In the same time period (30/09 to 17/12) Heres a few of their holdings that I track.

Nvidia +34.2%
Taiwan Semi +3.94%
Exxon +2.06%
HDFC -7.64%
UnitedHealth +24.67%
Microsoft +14.86%
Alphabet +6.02%
Astrazenica -4.71%
Target -2.39%
Sherbank of Russia -14.59%
Petroleo Brasileiro +6.46%
ASML +2.49%

Very much a mixed bag. I believe their overweight in financials and energy, underweight Cons disc. and industrials.
I wouldn't be concerned unless 3yr numbers turned negative. Magellan still had strong inflows while they were trailing on 1 year but were above on 3 yr. It wasn't until both 1yr and 3yr turned negative did they start to have problems. I agree something to monitor, I'm not losing any sleep over 3 month numbers, change the data points by a couple of weeks and they'll look completely different. I'll review at the next quarterly commentary.

Cheers,
Plague.