Ninety One AUM slashes dividend after AUM fall and £9.4bn outflow

Modest uptick in pre-tax profits

Ninety One has lowered its dividend after reporting a fall in assets under management and net outflows of £9.4bn during a period of “challenging” business conditions.

In its annual results to 31 March published today (5 June), the FTSE 250 Anglo-South African asset manager reported a 3% decrease in AUM to £126bn, as net outflows outweighed positive market and foreign exchange movement of £6.1bn.  Pre-tax profits ticked up 2% to £216.8m despite lower average assets under management of £123.9, down 8% year-on-year. On an adjusted basis, operating profit came in 8% lower than last year.  Janus Henderson poaches UK distribution head from Ninety One Net outflows, which were slower than the £10.6bn reported in 2023, were largely driven by equities, sh...