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Interim results for the six months to 30 September 2020

17 November 2020 Ninety One

Highlights

  •  Solid performance despite challenging operating conditions.
  •  Assets under management increased 15% to £119.0 billion, though average AUM decreased
    by 3%.
  •  Net outflows of £0.3 billion.
  •  Significant improvement in investment performance during the period.
  •  Net revenue decreased 1% to £297.3 million, although performance fees increased
    substantially (to £18.0 million).
  •  Profit before tax increased 3% to £94.8 million.
  •  Basic earnings per share increased 1% to 7.9p and adjusted earnings per share remained flat.
  •  Declared an interim dividend of 5.9p per share.
  •  Staff shareholding increased to 22.5%.

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Quick Polls

QUESTION

How to give affordable and appropriate financial advice to the low income market segment. There is little room on a R50 pm policy for advisers to be remunerated for the time it would it would take to educate & fulfil admin function. What is the solution?

ANSWER

[a] Eliminate non-advice sales / telesales
[b] Implement industry standards for non-advice information
[c] Introduce an insurer-funded pro-bono advice network to low income earners
[d] Reinforce the Policyholder Protection Rules
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FAnews November 2020 Get the latest issue of FAnews

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