In an ASX update on Tuesday, GQG said funds under management (FUM) as at 30 September 2024. stood at USD 161.6 billion compared to USD 160.8 billion at the end of August.

The firm also reported year-to-date net inflows of $17.4 billion, compared with $8.1 billion for the same period in 2023.

Breaking it down by asset class, the biggest increase in FUM this month was seen in the US equities division, which rose by US$500 million during the month.

GQG's emerging markets FUM capital saw modest growth of around US$300 million in September, while international and global capital remained flat over the period, unchanged at US$62.9 billion and US$39.7 billion, respectively.

According to the firm, it continues to see positive gross sales across channels and investment strategies.

"During the third quarter, our institutional channel continued to see moderate redemption pressure from changes in asset allocation and rebalancing," GQG said this week.

“These headwinds from the institutional channel were offset by acceleration in our wholesale and sub-advisory channels.

"We believe our strong long-term risk-adjusted returns, combined with our global, diversified distribution capabilities, position us well in the market." We expect continued positive net flows in 2024. with a solid lineup of potential new FUMs.”

As in prior periods, GQG noted that management fees, as opposed to performance fees, continued to make up the majority of net income.

"Our management team remains strongly aligned with shareholders and customers and strongly focused on and committed to the future of GQG."

In an update earlier this year, the investment boutique said it expects positive new inflows to continue into 2024. with a "solid line" of potential new FUMs.

This was confirmed in the half-year results published in August, where GQG reported US$11.1 billion in positive net inflows in the first six months of 2024.

This month's update follows the US Securities and Exchange Commission (SEC) settling charges against a Florida-based wholly-owned subsidiary of GQG for entering into agreements with job applicants and a former employee that made it difficult for them to report potential violations of the Securities Act to the SEC.

Namely, the US watchdog found in September that GQG Partners LLC violated a whistleblower protection rule that prohibits actions to prevent an individual from communicating directly with SEC staff about a possible violation of securities law books.

The SEC confirmed that GQG agreed to be censured, cease and desist from violating the whistleblower protection rule, and pay a civil penalty of $500,000. At the time, the company had not yet admitted or denied the findings.

The ASX-listed company saw its share price fall significantly on the news, down 3.47% by the end of trade on September 27 - a remarkable turnaround from the 94.4% gains it has posted over the past 12 months .