Picture: MARTIN RHODES
Picture: MARTIN RHODES

Investec Asset Management will soon be known as Ninety One as the investment manager breaks away from financials services company Investec Group. 

It said on Tuesday that the new name, which will be in effect after the separation from Investec is complete, “reflects the heritage of the firm” that was established 28 years ago. 

The asset manager said its demerger from the financial services company is on track to take place in the first quarter of 2020, subject to the approval of Investec plc and Investec Ltd shareholders. 

“Our journey taught us to see the world differently, to recognise and react to change and uncertainty. Today, that’s what sets us apart. Now we’re changing our name, but not who we are,” joint CEO of Investec and founder of Investec Asset Management Hendrik du Toit said in a statement. 

The demerger and independent listing of  Investec Asset Management, which was announced in September 2018, has received all key regulatory approvals, Investec said in August. 

mjoo@businesslive.co.za