The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:This MF Startup Aims For 50 People By the End of 2018 Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, December 18, 2017

This MF Startup Aims For 50 People By the End of 2018

Reported by Neil Anderson, Managing Editor

A year and a half in, a mutual fund startup just reached $10 billion in AUM. The team there has big growth plans for next year.

"I suspect if we look out a year it'll be something like 50 [staff] at the end of 2018," Tim Carver, CEO of GQG Partners, tells MFWire.

Carver expects to add new positions in client services, client reporting, sales, and marketing. Ft Lauderdale, Florida-based GQG currently has a team of 37. Of their $10 billion in AUM, about $1 billion is in their mutual funds, and Morningstar estimates put GQG near the top of the pack in net inflows among small fund firms thanks to monthly net inflows of $73 million and up for the past several months.

Big data, artificial intelligence, and social media are all areas that Carver expects to do more work with.

"One area that we're going to invest very heavily in is the technology backbone for distribution," Carver says.

Rajiv Jain founded GQG in June 2016 after more than 20 years at Vontobel, including 14 as head of equities. GQG stands for "global quality growth", which meshes with Jain's investment philosophy of investing internationally (including in emerging markets) in "quality growth at sensible prices."

Jain serves as chairman and chief investment officer of GQG, and he currently owns 95 percent of the company. Pacific Current Group, which GQG's Carver co-founded in 2006 and which is a private equity buyer of boutique investment firms, owns the remaining five percent of GQG. Watch for GQG's ownership to change further down the line.

"Over time we will allocate equity very broadly among the team" at GQG, Carver says. "You want to take your time to issue equity, get the right people on the bus in the right seats."

"If you're going to have really low fees ... you've got to have a very lean machine," Carver adds.

Jain has infused GQG with a specific philosophy, one that sees asset management as a privilege and that encourages you to invest alongside your clients. About two-thirds of Jain's net worth is invested in GQG's mutual funds.

"You want alignment all the way through," Carver says. "There's a lot of stuff that you can do structurally. People miss some of the cultural things that actually really matter."

Jain strives for a lean cost structure, and he is uninterested in stability for its own sake.

"There's so much lip service paid to stability," Jain says. "Isn't stability a sign of stagnation? Isn't that the problem?"

"I didn't bring anybody from Vontobel," Jain adds. "I've freshened up the whole team. You've got to adapt to the change."

"One of of our core beliefs is that this is the most competitive, the most meritocratic business in the world. You have to build a culture for competitive edge in everything that you do," Carver says. "We're going to find incredibly hungry, driven people."

In terms of distribution, GQG reaches out to both the institutional market and across the advisor channel to independent broker-dealers, RIAs, and wirehouses. Down the line, Carver says, they hope to break into the defined benefit and DC I-O channels, too. 

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2022: Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

  1. 2022 ICI Leadership Summit, May 25-26
  2. ALFI Roadshow to New York, May 25
  3. 2022 IDC Fund Directors Workshop, May 26
  4. Irish Funds Annual Global Funds Conference 2022, May 30-31
  5. WealthManagement Edge, May 31 - June 3
  6. MFDF 2022 Fund Governance and Regulatory Insights Conference, Jun 8-9
  7. 28th annual Expect Miracles East Coast Classic, June 9
  8. 2022 Sohn Investment Conference, June 9
  9. IDC webinar - Cybersecurity for Fund Boards: The Current Landscape, June 9
  10. MMI webinar - Driving Business Value with Artificial Intelligence & Data, June 15
  11. MFDF webinar - Key Takeaways From Morningstar's 2021 Annual Fund Fee Study, June 16
  12. MFDF Director Discussion Series - Open Forum (Chicago), June 21
  13. 2022 MMI Emerging Asset Managers Forum, June 23
  14. MFDF In Focus: Capitol Hill, A Conversation with Congressman Bryan Steil, June 28
  15. Financial Planning INVEST, Jun 28-29
  16. MFDF webinar - Differentiating Mutual-Fund-to-ETF Conversions, July 19
  17. MFDF Director Discussion Series - Open Forum (New York), July 20
  18. 2022 MMI Distribution Leadership Forum, Jul 20-21
  19. MFDF webinar - Fund Boards' Oversight of Investment Performance, July 28
  20. MFDF webinar - Performance, Perception and Manager Selection, September 14
  21. 2022 ICI Tax and Accounting Conference, Sep 18-21
  22. 5th annual Expect Miracles Atlantic Coast Classic, October 3
  23. Nicsa Fearless Leadership Symposium, Oct 6-7
  24. 2022 MMI Annual Conference, Oct 19-21
  25. 2022 IDC Fund Directors Conference, Oct 24-26
  26. 18th annual Expect Miracles Wine & Spirits Event, October 27

©All rights reserved to InvestmentWires, Inc. 1997-2022
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use