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Ninety One AUM falls as Covid-19 hits markets

By Frank Prenesti

Date: Wednesday 20 May 2020

(Sharecast News) - Asset manager Ninety One said assets under management (AUM) fell 7%, reflecting the impact of the coronavirus pandemic on world financial markets.

Reporting its first set of results since its demerger from Invesco, the company said AUM dropped fell to £103.4bn in the year to March 31 from £111.4bn a year earlier.

The company said short-term investment performance was hurt by the extreme market correction in March this year as government lockdowns closed busineness with workers being forced to stay at home.

"After markets were hit by the COVID-19 correction in March 2020, the situation deteriorated to the point where our aggregate performance looked decidedly average over one and three years," the company said.

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