StockMarketWire.com - Investec said it had made progress on preparations to list its asset management business on the London and Johannesburg stock exchanges ahead of shareholder vote due 10 February.

Offering a range of high-conviction, active strategies to its global client base, Ninety One had amassed £121bn in assets under management as at 30 September 2019.

'The demerger and listing of a fully-independent Ninety One is a major step in Investec group's programme to simplify and focus, and positions both the Ninety One and Investec Bank and Wealth businesses for long-term growth,' the company said.

Ninety One had continued the trend of operating profit growth since 30 September 2019, with higher pound sterling asset under management at 31 December 2019 and net inflows for the quarter ended 31 December 2019, Investec said.



Story provided by StockMarketWire.com