South Africa’s biggest private asset manager hits a new high

The first half of Ninety One’s 2026 financial year is off to a roaring start, with the investment giant’s assets under management (AUM) reaching a record £152.1 billion (R3.53 trillion).

Ninety One is one of South Africa’s largest asset managers, second only to the state-owned Public Investment Corporation.

On Monday, 17 November 2025, Ninety One released its interim results for the six months through September 2025, which showed a strong performance.

The asset manager’s AUM grew to £152.1 billion (R3.53 trillion) – the highest number ever reported by Ninety One – and is up 19.39% compared to the first half of the company’s 2025 financial year and .

This also reflects significant growth compared to the start of Ninety One’s financial year in March 2025, when it’s AUM stood at £130.8 billion (R2.94 trillion).

The company attributed this to positive net flows across most asset classes, substantial net inflows into global equities in particular and an encouraging recovery in fixed income. 

Ninety One recorded net inflows of £4.3 billion (R103.6 billion) during the six-month period, a welcome turnaround from two consecutive periods of outflows previously.

The company said net flows have improved steadily over the last six months and the majority of its client groups have contributed towards this. 

Ninety One also recorded a 10% increase in profit to £102.2 billion (R2.30 trillion), and a 14% jump in basic earnings per share to 8.9 pence (R2.10) per share.

CEO Hendrik du Toit attributed this strong performance to improved business conditions.

“The combination of strong markets, competitive investment returns, net inflows and ongoing cost control has delivered healthy earnings growth,” he said. 

“We see early evidence of a demand recovery for emerging markets and differentiated active investment management. We are well positioned for this.”

Du Toit added that Ninety One’s landmark partnership with Sanlam, inked in November 2024, is already delivering. 

He said the UK transaction was completed in June 2025, with the South African transaction to follow later this financial year.

“Whilst doubling down on our core markets and offerings, we are also investing in exciting growth initiatives and in our technology platform,” he said. 

“Our focus remains on investing and serving our clients to the highest possible standards. Ninety One’s clarity of strategy and simplicity of model enable us to seize the opportunity with pace and strength.”