Ninety One  

Ninety One posts nearly £4bn in inflows

Ninety One posts nearly £4bn in inflows

Ninety One saw its assets under management grow by 7 per cent in the six months to September 30 this year, driven by net inflows and portfolio growth.

This marks a change in fortune for the fund house, which had struggled with outflows during the previous half year period.

Assets rose to £140bn in the period, an increase of 7 per cent since the end of March.

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The company posted net inflows of £3.9bn, compared with net outflows of £300m for the same period in 2020.

The group, which is the former asset management arm of Investec, saw a steady rise across all asset classes compared with the figures at the end of March. Fixed income rose 9 per cent, taking its AUM to £37bn, while equities rose 7 per cent to £67bn. 

Assets for advised clients rose by 10 per cent to £47bn, with institutional AUM rising by 5 per cent to £93bn.

The positive performance drove pre-tax profit up 39 per cent to £132m compared with the same period in 2020.

Ninety One’s founder and chief executive, Hendrik du Toit, said: “The combination of strategic clarity, disciplined execution, competitive investment performance, a motivated, stable team and a long-term approach to business continues to work well for Ninety One. 

“While the supportive market conditions of this reporting period will not last indefinitely, we see substantial long-term growth opportunities ahead. 

“We will continue to invest in our people and our business so that we can deliver for our clients. This remains our formula for value creation.”