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(Sharecast News) - Investment manager Ninety One on Tuesday reported a small increase in assets under management (AuM) in its third quarter.
The Johannesburg and London-listed firm said that AuM totalled £124.2m by 31 December, down from £132.4m a year earlier but up from £123.1bn at the half-year stage of 30 September.
The company, which has 21 offices across 14 countries, offers strategies for equities, fixed income, multi-asset and alternative investments to institutions, advisors and individual investors.
In a statement regarding Ninety One's annual general meeting last year, the company acknowledged that 20.4% of shareholders voted against the general authority to issue new shares in Johannesburg.
"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," the company said in a statement.
"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 2024."
