Morningstar cuts target for GQG Partners stock to AUD 1.05

Published on 10/17/2026 at 22:25 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

September FUM held at USD 149.2 billion on October 12, 2026. GQG Partners stock closed at AUD 1.06 on October 16, up 2.90 percent on ASX.

Fair value and fund flows

Morningstar lowered its fair value estimate from AUD 1.50 to AUD 1.05 on October 16, 2026.
September funds under management held at USD 149.2 billion on October 12, 2026.
GQG Partners stock closed at AUD 1.06 on October 16, 2026 at 4:12 p.m. AEDT, up 2.90 percent versus the ASX prior close.
The next ex-dividend date is October 20, 2026.

GQG Partners, AU0000180499, Illustration mit AI erstellt.

Morningstar cut its fair value estimate for GQG Partners from AUD 1.50 to AUD 1.05 on October 16, 2026, putting the target 0.94 percent below the ASX closing price of AUD 1.06. The change gives investors a fresh valuation marker as the fund manager works through persistent client outflows.

Funds held steady in September

GQG Partners reported funds under management of USD 149.2 billion as of September 30, 2026, with USD 2.4 billion of investment performance offsetting USD 2.3 billion of net outflows during the month, according to Stockwirex. For the third quarter of 2026, net outflows reached USD 11.1 billion while investment performance contributed USD 4.4 billion.

The nine-month picture was weaker. Net outflows totaled USD 26.2 billion through September 30, 2026, while investment performance added USD 11.6 billion, leaving funds under management below the USD 163.9 billion recorded at December 31, 2025.

Price position and trading range

GQG Partners closed on the ASX at AUD 1.06 on October 16, 2026, up AUD 0.03 or 2.90 percent from the prior close of AUD 1.03. The session price was below the 52-week high of AUD 1.97 and above the 52-week low of AUD 1.02. The company investor page reported 2,651,748 shares traded during the session and a day range of AUD 1.04 to AUD 1.07.

At the latest quoted market value, GQG Partners was valued at AUD 3.2 billion and traded at a price-to-earnings ratio of 4.74. The business provides investment advisory and asset management services to pooled vehicles and separately managed accounts, with its shares listed on the ASX under GQG.

Valuation and upcoming dates

Morningstar said its lower AUD 1.05 fair value estimate reflected higher projected outflows and lower fee assumptions. The estimate followed GQG's September funds update and was accompanied by a move to a very high uncertainty rating, according to Morningstar.

GQG Partners' next ex-dividend date is October 20, 2026, with a special dividend of AUD 0.0467 per share listed for payment on December 16, 2026, according to Intelligent Investor.

Comparison with peers

GQG Partners (ASX, AUD): plus 2.90 percent, price-to-earnings ratio 4.74, market capitalization AUD 3.2 billion

Blackstone (NYSE, USD): minus 2.35 percent, price-to-earnings ratio 23.70, market capitalization USD 122.7 billion

Janus Henderson (NYSE, USD): minus 0.04 percent, price-to-earnings ratio 10.21, market capitalization USD 8.0 billion

Valuation remains tied to flows

The central investor variable is the balance between investment performance and client redemptions. September's figures showed that positive returns kept total funds stable, but the USD 2.3 billion monthly outflow still left the nine-month flow balance deeply negative.

The latest ASX price was AUD 1.06 at 4:12 p.m. AEDT on October 16, 2026, up 2.90 percent versus the ASX prior close of AUD 1.03. The price stood 46.19 percent below the 52-week high of AUD 1.97.

Market context: Market report S&P/ASX 200.