Investec Asset Management to rebrand as Ninety One

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Investec Asset Management is changing its name to Ninety One, the firm said in a statement on Tuesday.

The rebranding and renaming will be rolled out following the completion of its demerger from the Investec Group, it said, adding that the demerger was on track to take place in the first quarter of 2020, subject to Investec Plc and Investec Ltd shareholder approvals.

Investec announced the spin-off of its asset management unit in 2018, citing a lack of synergy between its banking and wealth and investment divisions, Bloomberg previously reported

The new name is a reference to Investec Asset Management's roots as a start-up founded in South Africa in 1991. Today it manages over R2trn for institutional and advisor clients globally, the firm said.

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