Ninety One outflows reach £10.6bn in year of 'significant headwinds'

Performance fees fell by 38%

Ninety One has experienced “a year of significant headwinds” as the firm’s assets under management fell to £129.3bn from £143.9bn the year before.

In the firm's annual results for the year to 31 March 2023, it revealed that net flows for the asset manager reached £10.6bn in outflows, compared to £5bn in inflows the year before. Hendrik du Toit, founder and CEO of Ninety One, described the past year as "challenging for the company", stating that the firm was "working hard to regain positive momentum after a difficult second half". Ninety One appoints Dan Hanbury global strategic equity fund manager Performance fees fell by a whopping 38% to just £19.4m, as the asset manager's style of "risk-on", public-market strategies st...