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Ninety One inflows return in H1, profits jump
(Sharecast News) - Investment manager Ninety One on Monday reported a return to first-half net inflows on the back of stronger markets, with profits up 12%. Net inflows for the six months to September 30 came in at £4.3bn, compared with outflows of £5.3bn a year ago. Adjusted operating profit rose to £98.8m, while on a pre-tax basis they increased 10% to £102.2m.
Assets under management increased by 16% to £152.1bn.
"Over this reporting period business conditions have continued to improve. The combination of strong markets, competitive investment returns, net inflows and ongoing cost control has delivered healthy earnings growth, said chief executive Hendrik du Toit.
"We see early evidence of a demand recovery for emerging markets and differentiated active investment management. We are well positioned for this."
Reporting by Frank Prenesti for Sharecast.com
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