NINETY One, the independent global asset management company, increased assets under management by 10 percent to a record £143.9 billion (R2.9 trillion) for the year to March 31.
Pre-tax profit increased 31 percent to £267.1 million. Net inflows came to £5bn. Basic earnings per share increased 34 percent to 22.6 pence. Adjusted earnings per share was up by 13 percent to 19.2 pence.
A final dividend of 7.7 pence would bring the full-year dividend to 14.6 pence a share, 16 percent higher than the previous year.
The company offers active investment strategies across equities, fixed income, multi-asset and alternatives to institutions, advisers and individual investors around the world.
Chief executive Hendrik du Toit said they had enjoyed strong support from clients as reflected by net inflows of £5bn. A combination of “strategic clarity, disciplined execution, competitive long-term investment performance, a motivated, stable team and a long-term approach to business” continued to work well for Ninety One, he said in a statement.
Business and market conditions deteriorated towards the end of the reporting period and were expected to remain challenging into the next financial year.
The spectre of inflation and rising interest rates in a world of supply chain disruption and increased political uncertainty had caused volatile markets and a diminished risk appetite among end investors.
“We nevertheless see substantial long-term growth opportunities for Ninety One in the markets we serve. Our approach to value creation has not changed. We continue to invest in our people and our business to deliver for our clients. With employee ownership now over 25 percent, our commitment to long-term value creation for all stakeholders is clear,” he said.
BUSINESS REPORT ONLINE