Ninety One has joined forces with Sanlam in a move that will see the Hendrik du Toit-led firm take over more than £17.4bn of Sanlam-managed assets.
The partnership between the two firms means that Ninety One will take ownership of Sanlam's active asset manager, Sanlam Investment Management. As part of the agreement, Sanlam will also appoint Ninety One as the investment manager of Sanlam Investments UK, taking ownership of the balance sheet assets, third-party assets and relevant investment professionals involved in the strategies. In recognition of the £17.4bn of assets transferred from Sanlam, 80% of which reside in South Africa, Ninety One said it intends to issue shares to Sanlam, amounting to an approximate stake of 12.3% of...
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