Ninety One reports record profits after £5bn inflows
London-listed asset manager Ninety One reported record profits today after notching up £5bn inflows in the past year, despite a slowdown in the final quarter sparked by soaring inflation and war in Ukraine.
Profits at Ninety One surged 31 per cent to £267.1, as the firm boosted its assets under management by 10 per cent to £143.9bn.
Founder and chief executive Hendrik du Toit said today it had been a stellar year for the firm as it rebounded from a slump in inflows in 2021.
“I am delighted to announce record earnings and assets under management after thirty one years in business”, he said.
“Over the reporting period Ninety One enjoyed strong support from our clients as reflected by net inflows of £5 billion.”
He warned that business had slowed in the past quarter however as soaring inflation and market turbulence sparked by conflict in Ukraine hit investor confidence.
“The spectre of inflation and rising interest rates in a world of supply chain disruption and increased political uncertainty speaks to volatile markets and a diminished risk appetite among end investors,” du Toit said.
Bosses hiked the firm’s final dividend 16 per cent to 14.6p per share on the back of the record results, up from 7.7p per share.