Hendrik du Toit: This marks a historical moment for Ninety One, despite extraordinary market volatility.
On 16 March, Ninety One celebrated its listing on the Johannesburg Stock Exchange (JSE). They listed under the asset managers sub-sector.
This follows the demerger of Investec Asset Management from the Investec Group and its subsequent rename to Ninety One. The demerger sees Investec and Ninety One being able to focus on their respective growth paths, which enhance the long-term prospects and potential of both businesses for the benefit of their shareholders, clients, and employees.
Ninety One’s investment proposition for clients centres on its range of differentiated strategies managed by its specialist investment teams, providing access to a diverse range of asset classes and regions globally.
About the listing, Ninety One founder and CEO Hendrik du Toit said:
“Today marks a historical moment for Ninety One. Despite extraordinary market volatility, we are confident in the resilience of our capital-light business model and its organically developed, specialist, active investment offerings.”
Hendrik expressed his deep appreciation for the support from his “erstwhile colleagues” at Investec throughout the process and wished them well as they chart their own course as a bank and wealth business. “I would like to thank the people at Ninety One for their hard work and commitment to our clients and to our firm. We look forward to continuing to deliver on our purpose of investing for a better tomorrow.”
Ninety One’s listing is the second listing on the JSE in 2020 and contributes towards a market capitalisation of R80.9 billion in the exchange’s asset managers sub-sector. The listing also brings the number of companies listed on the JSE to 354, with the exchange reflecting an overall market capitalisation of R15.2 trillion.
JSE director of capital markets Valdene Reddy said:
“Ninety One has built a strong and solid relationship with the JSE through the Investec Group, a company that first listed on the JSE in 1986. Today marks a new direction for Ninety One, and it is with great pleasure that the JSE can continue being a part of this journey that will further unlock diversity and value for investors.”