CHAMWE KAIRA
South African-founded asset manager Ninety One returned to positive net inflows and significantly increased assets under management (AUM) during the year ended 31 March 2026, supported by the completion of its strategic transaction with Sanlam.
Namibia forms part of Ninety One’s African business.
Namibian pension funds and investors with exposure to Ninety One-backed investment strategies stand to benefit from a stronger performance by the South African-founded asset manager.
The group reported that AUM rose by 31% to £171.8 billion, from £130.8 billion a year earlier, driven by net inflows of £2.8 billion, positive market and foreign exchange movements of £19.9 billion, and the addition of £18.3 billion in assets transferred through the Sanlam transaction.
The deal involved the transfer of the active asset management businesses of Sanlam Investments UK and Sanlam Investment Management in South Africa to Ninety One, strengthening the firm’s position in its home market and internationally.
Adjusted earnings per share increased by 12% to 17.4 pence, while adjusted operating profit rose 12% to £211.3 million.
Profit before tax improved to £207.5 million from £204.3 million in the previous financial year.
The company proposed a full-year dividend of 13.4 pence per share, up 10% from 12.2 pence previously.
Founder and chief executive officer Hendrik du Toit said the business had gained momentum over the past year.
“Ninety One is a resilient and robust business with positive momentum. The demand recovery for emerging markets is visible and our offering competitive. We are in a stronger position than a year ago,” he said.
Africa remained the group’s largest client region, with assets under management increasing by 44% to £80.4 billion, from £55.7 billion.
The growth reflected the impact of the Sanlam asset transfer as well as favourable market conditions.
The South African fund platform also recorded strong growth, with assets under management rising 32% to £17.5 billion.
Across asset classes, equities remained the largest component of assets under management at £77.4 billion, followed by fixed income at £43.7 billion and multi-asset portfolios at £27 billion.
Ninety One reported net inflows of £2.8 billion for the year, marking a turnaround from net outflows of £4.9 billion in the previous financial year.
Including the Sanlam asset transfer, total inflows reached £21.1 billion.
Equities generated net inflows of £1.2 billion, supported by demand for global equity and natural resource strategies, while fixed-income strategies attracted £1.1 billion in new money.
The South African fund platform recorded net inflows of £1.1 billion.
However, Africa as a client region experienced net outflows of £1.1 billion, as withdrawals from South African multi-asset and equity strategies outweighed inflows into fixed-income products and the fund platform.
Regionally, Asia-Pacific was the strongest contributor to net inflows at £3.6 billion, followed by Europe with £966 million and the Americas with £775 million.
Du Toit said the company continued to invest in talent and technology while maintaining cost discipline, adding that several significant partnerships established during the year had strengthened the business for future growth.
