SOUTH AFRICA – Investec Asset Management, an investment products and services to institutions, has completed its demerger from Investec Group and officially rebranded, in what it says is the final step to becoming an independent global asset manager.
Now known as Ninety One, the firm’s shares will list today on both the London Stock Exchange and the Johannesburg Stock Exchange.
Ninety One founder and chief executive Hendrik du Toit said despite the current market environment he was excited for the future.
“Today we start an exciting new phase as an independently-listed company. In spite of the current market volatility, we are excited about the future,” he said.
“Our purpose of investing for a better tomorrow is now as relevant as ever. We remain committed to serving our clients to the best of our abilities by building a better firm, pursuing better investment and contributing to a better world.”
Ninety One unveiled its new brand in November last year, which it says “both recognises the firm’s history and reflects the forward-looking, resilient and agile nature of the business.”
Ninety One Australia head, Justin Cowper, said the manager will continue to meet the specialist investment needs of its clients.
“Although our name has changed, we remain the same company with the same passion for our clients,” he said.
“Since launching our Australian operations in 2013, we have made it our focus to work hand in hand with institutional investors to tailor our specialist investment capabilities to meet the needs of their portfolios.”
Investec Asset Management was established in South Africa in 1991, initially offering domestic investments in the emerging market.
“The completion of the demerger will mark an important milestone for Investec. It enables us to continue our drive towards simplification, focus and growth,” Fani Titi, Joint CEO of Investec, commented.
“Meanwhile Ninety One embarks on the next phase of its own journey. Investec shareholders will benefit from their direct ownership of these two companies and their individual potential for long-term growth and value creation.”
Almost three decades later, the now independent asset manager has US$233.3 billion under management (as of 30 September 2019).
Ninety One offers a range of active strategies across equities, fixed income, multi-asset and alternatives to retail, institutional and wholesale investors alike.
