Ninety One saw its assets under management grow by 7 per cent in the six months to September 30 this year, driven by net inflows and portfolio growth.
This marks a change in fortune for the fund house, which had struggled with outflows during the previous half year period.
Assets rose to £140bn in the period, an increase of 7 per cent since the end of March.
The company posted net inflows of £3.9bn, compared with net outflows of £300m for the same period in 2020.
The group, which is the former asset management arm of Investec, saw a steady rise across all asset classes compared with the figures at the end of March. Fixed income rose 9 per cent, taking its AUM to £37bn, while equities rose 7 per cent to £67bn.
Assets for advised clients rose by 10 per cent to £47bn, with institutional AUM rising by 5 per cent to £93bn.
The positive performance drove pre-tax profit up 39 per cent to £132m compared with the same period in 2020.
Ninety One’s founder and chief executive, Hendrik du Toit, said: “The combination of strategic clarity, disciplined execution, competitive investment performance, a motivated, stable team and a long-term approach to business continues to work well for Ninety One.
“While the supportive market conditions of this reporting period will not last indefinitely, we see substantial long-term growth opportunities ahead.
“We will continue to invest in our people and our business so that we can deliver for our clients. This remains our formula for value creation.”
sally.hickey@ft.com
