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LON250:INVP, Sep 26, 09:37 UTC

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Friday, September 14


News

Investec's Money Manager Seen as Target After Split From Parent

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After amassing 109 billion pounds ($143 billion) in assets within the belly of Investec Plc, Hendrik du Toit can now plot his own course as the money manager he founded splits from the banking group. For Investec Chief Executive Officer Stephen Koseff it is a bittersweet moment. Investec is spinning off the asset-management unit after a review found there is not much synergy with its banking and wealth and investment divisions.

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Topics:
  • Business
  • Financial
  • Science
News

Investec Spins Off Asset-Management Unit as Founders Depart

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Investec Plc plans to spin off its asset-management business after a strategic review found there is little synergy with the company’s specialist banking and private wealth-management divisions. Investec Asset Management, which oversees 109 billion pounds ($143 billion) across its offices in the U.K., South Africa, Australia and the U.S., will be headed by Hendrik du Toit, Johannesburg- and London-based Investec said in a statement on Friday. The plan to separately trade the asset-management business in London with a secondary listing on the Johannesburg Stock Exchange follows a similar step by insurer Old Mutual Plc, which split up its divisions to narrow the discount between the market value of the holding company and underlying assets. Deutsche Bank AG in March also spun off its asset management unit. For Investec, it comes as the founding members get ready hand over to a new set of leaders.

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Friday, June 01


Social Chatter

Investec PLC (LON250:INVP) social chatter is higher than usual

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$INVP has a bad technical rating, but it does show a decent setup pattern. https://t.co/WakPZ8sMaF #InvestecPlc #LondonStockExchange #INVP #Chartmill #TechnicalAnalysis https://t.co/tRxXIyI6cN

Thursday, May 17


News

Investec sees steady earnings growth as it prepares for changing of the guard

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JOHANNESBURG (Reuters) - Anglo-South African investment bank and asset manager Investec Plc (INVP.L) (INLJ.J) reported an increase in operating profit on Thursday, with funds managed by its asset management business topping 100 billion British pounds for the first time. The 5.6 percent rise in operating profit for the year ended in March indicates stability as Investec heads for a changing of the guard this year with co-founder Stephen Koseff set to step down as CEO in October and two other founding members of the business - Bernard Kantor and Glynn Burger - also due to retire. Analysts do not expect any big strategy shift for the group, which reported ongoing operating profit of 701 million pounds for the full-year ended March 31, up from 663.7 million pounds a year earlier. "Operating performance during the year was underpinned by sound growth in loans and funds under management and a solid recurring income base, despite a challenging backdrop in South Africa and the UK," Koseff said in a statement.

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News

Investec funds arm hits £100bn as it gears up for new era

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Investec's asset management business has hit £100 billion for the first time as its new bosses prepare to take command. The group attributed the increase to higher average funds under management on the back of net inflows of £5.4 billion, alongside favourable market and currency movements. Asset management profit rose by 8% to £178 million. Hendrik du Toit (pictured), founding CEO of Investec Asset Management and Fani Titi, non-executive chairman of Investec plc and Investec Ltd since November 2011, will assume the role of joint CEO from 1 October 2018. Commenting on his last set of full-year numbers, Koseff said: 'Operating performance during the year was underpinned by sound growth in loans and funds under management and a solid recurring income base, despite a challenging backdrop in South Africa and the UK.

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Topics:
  • Business
  • Financial

Friday, March 16


News

CORRECT: Investec Expects Annual Operating Profit To Remain In Line

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The bank and wealth manager said operating profit for the year ending March 31 is expected to be in line with the year before, which stood at GBP663.7 million. LONDON (Alliance News) - FTSE 250-listed Investec PLC said on Friday that for its current year it expects its Asset Management and Wealth & Investment divisions to be ahead of the year before, despite Brexit and political uncertainty. Investec noted for its financial year up to February 28, it saw a 9.1% increase in third-party assets under management to GBP164.5 billion. The Asset Management and Wealth & Investment arms of the group are expected to be ahead of the year before, due to higher levels of average funds under management and strong inflows.

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Topics:
  • Business
  • Financial

Tuesday, March 06


News

Investec (INVP) Hits New 52-Week High at $645.40

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Investec plc (LON:INVP) shares hit a new 52-week high during mid-day trading on Tuesday . Investec (INVP) Hits New 52-Week High at $645.40 – The Lincolnian Online. The firm has a market cap of $6,460.00 and a price-to-earnings ratio of 1,333.75. In other Investec news, insider Ciaran Whelan sold 78,703 shares of the company’s stock in a transaction on Monday, February 26th. If you are accessing this story on another domain, it was illegally stolen and republished in violation of U.S. and international trademark and copyright laws.

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Topics:
  • Business
  • Financial

Saturday, March 03


Social Chatter

Friday, March 02


Social Chatter

Investec PLC (LON250:INVP) social chatter is higher than usual

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Investec Asset Management LTD Has $962.67 Million Holdings in Alibaba Group Holding Ltd $BABA https://t.co/YMPEriPAzX

Thursday, March 01


Social Chatter