Ninety One Plc Reports Modest AUM Growth Amid Challenges

Ninety One Plc ( (NINTF) ) has released its Q2 earnings. Here is a breakdown of the information Ninety One Plc presented to its investors.

Ninety One Plc is an independent global investment manager, founded in South Africa, that operates in the financial services sector and is listed on both the London and Johannesburg Stock Exchanges. In its latest earnings report for the six months ending 30 September 2024, Ninety One Plc highlighted a modest increase in assets under management (AUM) to £127.4 billion, despite facing net outflows of £5.3 billion. Key performance metrics revealed a decline in adjusted earnings per share by 11% to 7.3 pence and a decrease in basic earnings per share by 12% to 7.8 pence, while the adjusted operating profit margin stood at 30.5%. The company also declared an interim dividend of 5.4 pence per share. Notably, Ninety One announced a significant long-term agreement with Sanlam, which will enhance its market leadership in South Africa by gaining preferred access to Sanlam’s distribution network. Looking ahead, the management of Ninety One Plc remains optimistic about the improving new business pipeline and the broader market environment, though they advise caution due to prevailing political risks.