Volatile markets and net client outflows take their toll on Ninety One

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 19 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 63%

Finance Finance Headlines News

The asset manager suffered net outflows of £3.2bn as some institutional investors fled to the relative safety of cash due to volatile markets

Ninety One, the asset manager spun out of Investec in 2020, suffered a drop in first-half earnings due to severe volatility in financial markets and client outflows precipitated by the war in Ukraine and accelerating global inflation.

The London- and Johannesburg-listed firm, which reports its results in pounds, said basic earnings per share fell 16% to 9.4 pence in the six months to end-September. While adjusted operating profit dropped 7% to £107.9m in the period. The company still managed to declare an interim dividend of 6.5p a share, marginally lower than the 6.9p previously...

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in FİNANCE

Finance Finance Latest News, Finance Finance Headlines