Investec Asset Management announced its new name and branding, Ninety One, which will be rolled out following completion of the firm’s demerger from Investec Group. Photo: Supplied

CAPE TOWN – Investec Asset Management on Tuesday 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 was on track to take place in the first quarter of 2020, subject to Investec plc and Investec Limited shareholder approvals, a statement from the group said on Tuesday. 

The new identity reflects the heritage of the firm. Investec Asset Management began as a start-up asset manager in South Africa in 1991. 

It currently manages more than £118.9 billion (R2.3 trillion) for institutional and advisor clients from all over the world.

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, reads the statement.  

Investec Asset Management joint CEO Hendrik du Toit said: “Back in 1991 when we started in South Africa, change was coming. Along with its challenges came the chance to invest in a better future. 

“Being part of that change made us who we are … 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 Tuesday.

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.

BUSINESS REPORT