14th Jul 2023 07:33
Ninety One PLC and Ltd - London and Cape Town-based money manager - Assets under management fall 7.5% to GBP124.8 billion as of June 30, down from GBP134.9 billion on March 31. The period was Ninety One's financial first quarter. On an annual basis, AUM is down 3.5% from GBP129.3 billion from June 2022.
In its financial results for the year that ended March 31 released in May, Ninety One said it remained cautious given less supportive market conditions. "Despite the market rally towards the end of the financial year, the coming reporting period will remain full of challenges and we enter it with appropriate levels of caution," it said at the time.
Stock price close in London on Thursday: 174.50 pence
12-month change: down 5.2%
Stock price close in Johannesburg on Thursday: ZAR41.47
12-month change: up 14%
By Artwell Dlamini, Alliance News reporter
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