Investec AM rebrand Ninety One to list on LSE

In a statement this morning the firm confirmed it would take a primary listing on the LSE and a secondary inward listing on the Johannesburg Stock Exchange "to ensure South African resident shareholders are treated equally with non-resident shareholders and can benefit from the expected future growth in Ninety One".

It also announced new "benefits" to the demerger from Investec Bank, made clear new policies designed for "strategic" and "financial flexibility".

Firstly it said Ninety One's boards will be provided with the "strategic freedom and flexibility to create value over the long-term".

In addition, it said there would be further "financial flexibility", which will reduce "some of the capital constraints placed on Ninety One through being part of Investec Group and, against a backdrop of continuing industry consolidation, provides Ninety One with a listed currency in the form of the Ninety One shares".

Elsewhere, Ninety One said the demerger "enhances positioning", and offers the "ability to attract and retain the best talent in a competitive global market", while being more attractive to clients.

Earlier in November, the firm's confirmed it would rebrand as Ninety One upon the demerger, which is on track to be completed by the first quarter of next year.

Drawing inspiration from the South African asset manager's founding year, the brand Ninety One "recognises the firm's history while the brand proposition reflects the forward-looking, resilient and agile nature", it said.

Joint CEO of Investec and founder of the asset manager Hendrik du Toit added: "Back in 1991 when we started in South Africa, change was coming.

"Along with its challenges came the chance to invest in a better future. Being part of that change made us who we are. It taught us to be bold, resilient and agile; to believe that active investing can be a force for good. 

"Our journey taught us to see the world differently, to recognise and react to change and uncertainty. Today, that is what sets us apart. Now we are changing our name, but not who we are."