Ninety One Q3 AuM flat
Investment manager Ninety One today on Tuesday confirmed assets under management were flat quarter on quarter at £132.4bn.
The figure to December 31 compared with £132.3 billion at the end of last September and were £141.7bn a year earlier.
In a separate statement, the company, listed in the UK and South Africa, acknowledged that more than a fifth of shareholders opposed a motion at its annual meeting granting the general authority to issue ordinary shares for cash in terms of the Listings Requirements of the Johannesburg Stock Exchange.
"The board recognises shareholder concerns regarding the dilution of their rights and investments and reiterates that it currently has no intention to issue new shares under the general authority. Notwithstanding this, the board believes that the general authority is important for maintaining flexibility and optionality in Ninety One's capital management," Ninety One said.
"The Board will continue to engage with a wide range of shareholders in the coming months to further understand their position on the matter of share issuance under the general authority and will provide an update in the Integrated Annual Report 2023."
Reporting by Frank Prenesti for Sharecast.com