LONDON (ShareCast) - (Sharecast News) - Wealth manager Ninety One reported net full-year outflows of £200m despite a "strong" performance during the period.
The said it was "disappointed" not to have achieved net inflows as despite a "strong performance" as assets under management (AUM) increased 27% to £130.9bn, while average AUM increased by 1% to £119.9bn.

The company, which was formed after the demerger of Investec Group's asset management arm in March 2020, pre-tax profit increased 3% to £204.1m and adjusted operating profit increased 9% to £206.2m.

"Noting that equity markets are at, or near, all-time highs and long-term interest rates remain at historic lows and are expected to rise in due course, we need to strike a note of caution," the company said on Wednesday.

"Although fee pressure and scrutiny remain, we believe there are still ample opportunities for active managers who execute well. Our pipeline is building and we look forward to improvements in flow momentum."

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