After almost three decades as part of a diversified financial services business, Investec Asset Management last week separated from its parent Investec and on Monday listed on the JSE and London Stock Exchanges as Ninety One. “This is the start of an exciting new chapter for us and the final step in our journey to independence,” said Hendrik du Toit, founder and CEO of Ninety One.
The key catalyst for the separation was increasing client demand for active asset managers to be entirely independent, coupled with the belief that it would provide a platform from which to invest for better client outcomes and growth. “For us this is about simplicity and focus. It also offers us the opportunity to increase and widen employee ownership, which will help us to attract and retain talent and ensure deeper alignment between clients, staff and shareholders.”
Since inception in 1991, Investec Asset Management – now Ninety One – has grown from a small start-up to a global investment firm managing in excess of R2.3 trillion*, making it South Africa’s largest fund management firm and amongst the top hundred largest globally. Ninety One chose a name with a strong connection to its heritage, which feels authentic to who they are and will help them to stand out in a competitive market. “We are very proud of our heritage and our name is a nod to our beginnings,” said Du Toit.
“We started in South Africa, in 1991. It was a time of massive and transformational change. Being part of that change made us who we are today. It taught us that active investing could be a force for good, to see the world differently and to recognise and react to change and uncertainty. Today, we believe that’s what sets us apart.”
Du Toit reiterated that beyond its name, the firm would not change. “While we’re now known by a new name, we’re the same company with the same investment offering and the same passion for our clients.”
He is not deterred by increased consolidation in the industry globally or the rise of passives: “We manage $148 bn in an industry that exceeds $75 trillion in assets under management. If we just do our job properly, there is significant scope for growth. Ultimately, I am confident that we will be able to continue to ply our trade successfully for clients and ensure a better retirement for them – that’s ultimately what we’re about.”
Learn more at www.ninetyone.com
This post and content is sponsored, written and provided by Ninety One.