SYDNEY — Shares of GQG Partners Inc. fell nearly 9% on Thursday to a fresh record low. Investors continued selling the global fund manager a day after it reported a sharp drop in funds under management.

GQG shares closed down 7 Australian cents, or 8.97%, at A$0.71. The stock fell as low as A$0.705, below Wednesday's previous record low. More than 30 million shares changed hands.

GQG's market value has fallen to about A$2.1 billion, and the shares are down about 51% over the past year.

On Wednesday, GQG shares plunged 19.6% to close at A$0.78, making it the worst performer on the S&P/ASX 200 index.

Funds under management plunge

The selloff followed GQG's monthly update showing........

© International Business Times