Florida-based investment firm GQG Partners continues to face substantial client withdrawals, with executive chairman Rajiv Jain struggling to halt billions of dollars in outflows. The money manager, which focuses on managing client capital across various investment strategies, saw investors pull $US2.3 billion ($3.3 billion) in September alone. This persistent divestment comes despite a period of stronger performance and Jain’s high-profile reversal on his cautious stance towards artificial intelligence investments.
Jain, known for taking contrarian positions, had previously likened the burgeoning AI trade to “dotcom on steroids.” However, his firm’s flagship $US3.1 billion Global Equity Fund, which had no exposure to US technology until recently, pivoted sharply in July. It aggressively loaded up on tech giants such as Alphabet, Microsoft, Amazon, Apple, and Nvidia in late July and August, which now constitute approximately a quarter of the fund’s portfolio. While these holdings contributed to a record investment return of $US2.4 billion in September, this gain was almost entirely offset by the $US2.3 billion client outflow.
The year-to-date figures reveal a challenging period for GQG Partners. The firm has been hit with $US26.2 billion in outflows in 2026, leading to total assets under management plummeting by $US23.7 billion from its peak of $US172.9 billion in late February. The current year’s outflows are now more than double the firm’s total investment gain of $US11.6 billion, and its flagship fund lags the index over one, three, and five years. In an announcement, GQG stated, “Following recent portfolio repositioning, GQG’s four primary investment strategies delivered positive absolute and relative returns during September and third quarter of 2026,” reiterating focus on compounding client capital over a full market cycle with disciplined attention to downside risk.
