Ninety One, SA’s biggest listed asset manager, posted a 12% drop in client cash flows in its financial second half, highlighting a scramble for cash in the latter period as the Covid-19 outbreak wreaked havoc in financial markets.

Ninety One, which reported its maiden set of financial results since it spun off from Investec, reported no growth in full-year net flows of £6bn (R131bn) as inflows into its funds slowed to £2.8bn in the six months to end-March, compared with £3.2bn in the prior six months...

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