Ninety One (formerly known as 'Investec Asset Management') is a global investment manager, running active investment strategies in both emerging and developed markets. Its primary offices are in Cape Town and London, and the company is cross-listed on the Johannesburg Stock Exchange and the London Stock Exchange, where it is a constituent of the FTSE 250 index.[2]

History

The company was established as Investec Asset Management in 1991. It rebranded to Ninety One prior to its spinoff from Investec and subsequent initial public offering, which was completed in March 2020 at a valuation of £2.1 billion.[3] The name is a reference to the year of its establishment.[4][5]

In the 2020 offer, it had been envisaged that 10% of the stock would be offered to the public but Investec controversially withdrew this commitment and decided to retain 25% (rather than 15% as originally planned) because of "market conditions".[6]

Following the Russian invasion of Ukraine, in February 2022, the Financial Times revealed that the chairman of Ninety One Limited, Gareth Penny, was continuing to serve as chairman of Russia's largest diversified mining and metals company, Norilsk Nickel. After the newspaper described the situation as a "governance failure" on 15 March 2022,[7] Penny resigned as chairman of Norilsk Nickel the following day.[8]

In March 2025, Sanlam and Ninety One announced that the latter would be taking ownership of Sanlam Investment Management, and assuming responsibility for Sanlam UK and the South Africa portfolios. The deal was completed in February 2026 adding round ZAR 400 billion (~£18 billion) to Ninety One's assets under management.[9]

Operations

Investec continues to own 13.91% of the Ninety One stock, while 31.36% is owned by the company's employees via an employee ownership vehicle called Forty Two Point Two.[10]

As of 31 March 2026, Ninety One had assets under management of £171.8 billion split across five core asset classes: equities £77.4bn (45%), fixed income £43.7bn (25%), multi-asset £27.0bn (16%), South African fund platforms £17.5bn (10%) and alternatives £6.2bn (4%).[11]

References

  1. 1 2 3 4 5 "Results for the year ended 31 March 2026" (PDF). Ninety One. Retrieved 3 June 2026.
  2. ↑ "FTSE 250 Index". London Stock Exchange. Retrieved 9 July 2020.
  3. ↑ "Investec AM valued at up to £2.1bn in IPO". FT Advisor. 2 March 2020. Retrieved 9 May 2026.
  4. ↑ "Investec AM rebrand Ninety One to list on LSE". Investment Week. 29 November 2019. Retrieved 17 December 2019.
  5. ↑ "Ninety One Starts Trading In London And Johannesburg After Demerger". Morningstar. 16 March 2020. Retrieved 17 March 2020.
  6. ↑ "Investec withdraws 10% share offer in Ninety One due to market conditions". Investment Week. 13 March 2020. Retrieved 17 March 2020.
  7. ↑ "Ninety One chair's Russia role is a governance failure for City asset manager". The Financial Times. 15 March 2022. Retrieved 9 July 2026.
  8. ↑ "Russian Nickel Giant Hit by Departure of Western Directors". Wall Street Journal. 16 March 2022. Retrieved 9 July 2026.
  9. ↑ """Sanlam and Ninety One seal key deal to reshape active asset management landscape"". Moonstone Information Refinery. 10 March 2025. Retrieved 9 July 2026.
  10. ↑ ""Ninety One PLC Ownership"". Marketscreener. 9 July 2026. Retrieved 9 July 2026.
  11. ↑ ""Results for the year ended 31 March 2026"". London Stock Exchange. 3 June 2026. Retrieved 9 July 2026.
source: https://en.wikipedia.org/wiki/Ninety_One_Limited