GQG Partners Shares Hit Record Low on Tech Bet

The fund manager's shares fell to an all-time low of 88¢ as its US equity fund dropped roughly 10 per cent last month.

Updated on Nov. 3, 2026 in Investing

GQG Partners Shares Hit Record Low on Tech Bet

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GQG Partners' shares traded at an all-time low of 88¢ on Monday after its $US11.9 billion US equity fund fell roughly 10 per cent last month. The decline followed chief investment officer Rajiv Jain's rotation back into technology stocks in July.

Why it matters

The losses have prompted heavy investor withdrawals, with $US2.3 billion pulled in September alone and calendar-year outflows reaching $US26.2 billion. The episode shows how concentrated bets on technology can weigh on fund performance and investor confidence when the sector turns.

GQG Partners' $US11.9 billion US equity fund fell roughly 10 per cent last month, while its shares closed at an all-time low of 88¢ on Monday. Whether the October tech sell-off and Nasdaq 100 correction will deepen these losses is not yet clear.

The players

GQG Partners

GQG Partners is an Australian-listed global investment manager that oversees approximately $213 billion in funds.

Rajiv Jain

Rajiv Jain is the chief investment officer of GQG Partners and led the firm's shift back into technology stocks.

The details

Jain rotated back into technology in July, and by late September technology names including Nvidia, Apple, Microsoft, Alphabet and Amazon made up over half of GQG's Global Equity Fund. Momentum reversed in October amid a broader sell-off in technology stocks and a correction in the Nasdaq 100, which were linked to concerns over the cost and financing of the AI boom.

July: Jain rotates back into technology stocks.
September: Investors pull $US2.3 billion from GQG.
October: Momentum reverses amid a tech sell-off and Nasdaq 100 correction.
Monday: GQG shares hit an all-time low of 88¢.

Market Dynamics

GQG's losses trace directly to the AI-led technology rally that drove the Nasdaq 100 higher before its October correction. The episode illustrates how heavy exposure to a single sector can magnify losses when broader concerns about AI spending and financing prompt a sell-off.

Investors holding GQG Partners shares or funds have seen the value of their holdings fall as the US equity fund dropped roughly 10 per cent. Anyone weighing exposure to concentrated technology funds should consider how sector-heavy portfolios can swing sharply during a tech sell-off.

The takeaway

Concentrated bets can deliver strong gains but also sharp losses when a single sector reverses. Reviewing how much of a portfolio depends on a few large technology names can help investors judge their own risk.