SOUTH AFRICA – Investec Asset Management, an international specialist banking and asset management group, announced its new name and branding, Ninety One, which will be rolled out following completion of the firm’s demerger from Investec Group.
“The demerger process is on track to take place in the first quarter of 2020, subject to Investec plc and Investec ltd shareholder approvals. The new identity reflects the heritage of the firm,” it said.
As at the end of June 2019 it manages over US$153.27bn for institutional and advisor clients from all over the world, including some of the largest and most sophisticated asset owners.
“The new name, Ninety One, recognises the firm’s history while the brand proposition reflects the forward-looking, resilient and agile nature of the business,” the firm said.
“Being part of that change made us who we are. It taught us to be bold, resilient and agile; to believe that active investing can be a force for good
Our journey taught us to see the world differently, to recognise and react to change and uncertainty. Today, that’s what sets us apart. Now we’re changing our name, but not who we are.”
Investec’s share price increased by 1.69 percent to R85.06 (US$5.73).
Investec’s asset management arm plans to list in London with a secondary listing in Johannesburg, as part of a restructuring of the financial services company that was announced last year.
The group had announced in August that all regulatory approvals for the proposed demerger had been obtained. Investec provides a range of financial products and services to a client base in three principal markets: the UK and Europe, Southern Africa, and Asia-Pacific. It is dual listed on the London Stock Exchange and the Johannesburg Stock Exchange