17th Jul 2020 07:47
(Alliance News) - Ninety One PLC on Friday posted a double-digit climb in assets under management during its first-quarter.
Assets under management rose 14% to GBP118.0 billion at June 30, from GBP103.4 billion at the end of March.
The second quarter of 2020, the first quarter of Ninety One's 2021 financial year, saw equities bounce as easing Covid-19 restrictions in some areas improved risk sentiment.
Ninety One completed its demerger from Investec PLC in mid-March. Investec had been planning the demerger of its asset management business since late 2018, and in November last year it said the business would be called Ninety One.
Following the IPO, Investec was to hold a 15% stake, with 55% held directly by Investec PLC and Investec Ltd shareholders. Around 20% would be held by employees, and the rest by new investors.
By Eric Cunha; [email protected]
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