Half Year 2026 Ninety One PLC Earnings Call Transcript

Nov 17, 2025 / 09:00 AM GMT

Release Date Price: €2.38 (+0.85%)

Transcript

Key Points

Positve

Ninety One Ltd (FRA:L91) reported a strong set of financial results for the period ended 30 September 2025.
Core operating business produced a solid outcome with management fees and adjusted operating expenses both increasing by 3%.
Adjusted operating profit increased by 12% to 98.8 million pounds, driven by higher performance fees.
Profit before tax increased by 10% to 102.2 million pounds, reflecting strong financial performance.
Adjusted EPS showed a 15% increase, benefiting from lower effective tax rates and a reduced number of ordinary shares.

Negative

There was a decline in the average management fee rate to 41.5 BPS, impacted by market movements and client mix.
FX losses were reported due to the stronger GDP to USD during the period.
The take on of large mandates at lower than average fee rates is expected to have a material impact on future management fee rates.
AUM decrease for higher than average fee rate clients negatively impacted the fee rate by an estimated 0.5 BPS.
Employee remuneration increased, partially offsetting the gains from increased management and performance fees.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

NY1J.J - Ninety One Ltd
Half Year 2026 Ninety One PLC Earnings Call
Nov 17, 2025 / 09:00AM GMT

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Presentation
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Unidentified_1 [1]
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Focus on the multi-asset part of our business.

The majority of our client groups were positive for the half year given the pipeline, and given the pipeline, I'm hopeful that UK will show positive results for the full year and that South Africa will return to positive net flows for the second half as well. As always, a few strategies have done outstandingly well while there are also laggards. Overall, we have a competitive offering which has the potential to generate ongoing net inflows and meet the high standards of our clients.

I now hand over to Kim McFarland, our Finance Director, to take you through the financial results. Thanks.

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