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Ninety One

Ninety One Parent Rating

Above Average

In March 2020, Investec Group rebranded and listed its asset-management division as an independent entity--Ninety One.

The company has a dual listing in London and Johannesburg. CEO and founder Hendrik du Toit leads a stable management team. The demerger from Investec Group allows the team to fully focus on Ninety One's own strategic goals as an active asset manager. It also helps align interests of various stakeholders, including staff, and improves the firm's ability to attract and retain talent. At listing, its management and employees owned a 20% stake; that has has now reached 28%.

Financially, Ninety One continues to be profitable with a strong balance sheet. Since inception in 1991 it has grown steadily and favours an organic approach to developing its investment capabilities. From its South African roots, the firm has built an international reach and presence. Cape Town and London are the two main investment centres. Equities is the largest book of business, but the firm has strengthened and expanded its multi-asset franchise in recent times. Within equities, the group offers four main strategies with their own distinct investment styles, though in-depth fundamental research and a longer-term focus are common across teams. Investment teams show good levels of tenure, and Ninety One offers a number of well-regarded funds within a sound operational and governance umbrella. We reaffirm our Above Average rating.

Ninety One Investments

Market

US Open-end ex MM ex FoF ex Feeder

Total Net Assets

709.51 Mil

Investment Flows (TTM)

51.72 Mil

Asset Growth Rate (TTM)

8.82%

# of Share Classes

6
Morningstar Rating # of Share Classes
0
0
2
2
0
Not Rated 2

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