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Investing.com -- Ninety One PLC (LON:N91) reported a 4% increase in assets under management (AUM) to £130.8 billion for the year ended 31 March 2025, driven by a positive market and foreign exchange impact of £9.7 billion.
The Anglo-South African asset manager returned to net inflows in the second half, though it ended the year with total net outflows of £4.9 billion, an improvement from the £9.4 billion recorded the year before.
Adjusted operating profit declined slightly to £187.9 million, down 1% year-on-year, with the operating margin at 31.2%. Adjusted earnings per share fell 3% to 15.5 pence. Profit before tax dropped 6% to £204.3 million.
Ninety One proposed a final dividend of 6.8 pence per share, bringing the full-year payout to 12.2 pence.
Investment performance improved over shorter time frames. One-year and three-year outperformance stood at 68% and 59%, respectively, while long-term five- and ten-year figures reached 72% and 81%.
“Ninety One regained positive flow momentum in the second half. Business conditions have improved," said CEO Hendrik du Toit. "While we expect the ongoing economic uncertainty and market volatility to persist, we are encouraged by early indications that demand is shifting towards our offering."
“We are committed to our relentless drive to build a better, more focused business. This motivates our people and is key to the success of Ninety One," he added.
While equity and fixed income saw net outflows, alternatives and the South African fund platform attracted net inflows.
The institutional channel ended the year in outflow, though it turned positive in H2. Outflows were largest from U.K. clients, partly due to portfolio rebalancing by major accounts.