Ninety One reports record AUM and looks to move away from fossil-fuel investments
Ninety One reported record assets under management as a market recovery in the wake of Covid-19 countered moderate net outflows
19 May 2021 - 09:28
UPDATED 19 May 2021 - 17:04
Ninety One, the asset manager spun out of Investec in 2020, reported record assets under management (AUM) in its latest fiscal year despite enduring one of the worst market sell-offs in living memory after Covid-19 roiled markets last year.
The London- and Johannesburg-listed company, which reports its results in pounds, said AUM increased 27% to a record £130.9bn (R2.6-trillion) in the year ended March 31. Though AUM was lifted by buoyant markets, Ninety One still experienced net outflows, largely driven by investors pulling out of equity funds...
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