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Investec aims to take market share from likes of UK's Barclays with its specialist touch

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Investec Group CEO Fani Titi.
Investec Group CEO Fani Titi.
Supplied

Even as SA companies with exposure to Europe brace for more pain as the continent battles surging inflation and a potentially prolonged recession, wealth manager and specialist bank Investec says it is confident about its growth, partly due to its clients being more "resilient" than institutional investors.

Unlike its former sister company Ninety One, which recorded R65 billion in net outflows in the six months to end-September as investors ran for safe havens, Investec said on Thursday it managed to attract £202 million (R4.2 billion) in net inflows over the same time period.

London and JSE-listed Investec reported on Thursday that its pre-provision operating profit grew 29.5% to £435.2 million to end-September, and its adjusted earnings per share increased by 25.1% to reach the top end of its guidance.

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