Ninety One reports rise in AuM after Sanlam UK transfer

(Sharecast News) - Ninety One reported a rise in assets under management to £139.7bn at the end of June on Tuesday, up from £130.8bn at the end of March and £128.6bn a year earlier. The FTSE 250 company said the increase included £1.9bn of assets from the transfer of Sanlam Investments UK's active asset management business to Ninety One UK, following the agreement announced in June.

A further transfer of assets was expected once the South African leg of the Sanlam transaction completes later in the financial year.

At 1023 BST, shares in Ninety One Group were up 1.14% at 191.55p.

Reporting by Josh White for Sharecast.com.