{"id":10155,"date":"2023-05-17T20:56:26","date_gmt":"2023-05-18T00:56:26","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/ninety-one-fy-2023-profit-fell-on-swing-to-outflows-cuts-dividend\/"},"modified":"2023-05-17T20:56:27","modified_gmt":"2023-05-18T00:56:27","slug":"ninety-one-fy-2023-profit-fell-on-swing-to-outflows-cuts-dividend","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=10155","title":{"rendered":"Ninety One FY 2023 Profit Fell on Swing to Outflows; Cuts Dividend"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"MW-BT-CO-20230517-701687\" role=\"document\">\n<p>By Joe Hoppe<\/p>\n<pre><\/pre>\n<p>Ninety One said Wednesday that fiscal 2023 pretax profit fell as it swung to net outflows on a combination of macroeconomic headwinds, and cut its dividend.<\/p>\n<p>The London-listed asset manager said pretax profit for the year to March 31 was 212.6 million pounds ($265.5 million) compared with GBP267.1 million in fiscal 2022.<\/p>\n<div class=\"paywall\">\n<p>Ninety One had net outflows of GBP10.6 billion compared with an inflow of GBP5.0 billion the previous year, while assets under management fell 10% to GBP129.3 billion.<\/p>\n<p>The company said fiscal 2023 was difficult for both it and its industry due to a combination of macroeconomic factors, including higher inflation, rapid interest-rate rises, heightened geopolitical uncertainty, a deterioration in economic prospects in South Africa and global energy shortages.<\/p>\n<p>&#8220;We faced significant headwinds. We nevertheless remain confident of the underlying strength of our business and the relevance and quality of our proposition to clients,&#8221; founder and Chief Executive Hendrik du Toit said.<\/p>\n<p>The board has declared a final dividend of 6.7 pence a share, bringing the full-year dividend to 13.2 pence, compared with 14.6 pence the year before.<\/p>\n<p>Shares at 0710 GMT were down 5.7 pence, or 3.3%, at 166.7 pence.<\/p>\n<pre><\/pre>\n<p>Write to Joe Hoppe at joseph.hoppe@wsj.com<\/p>\n<pre><\/pre>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/ninety-one-fy-2023-profit-fell-on-swing-to-outflows-cuts-dividend-e645a0ea?mod=investing\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Joe Hoppe Ninety One said Wednesday that fiscal 2023 pretax profit fell as it swung to net outflows on a combination of macroeconomic headwinds, and cut its dividend. The London-listed asset manager said pretax profit for the year to March 31 was 212.6 million pounds ($265.5 million) compared with GBP267.1 million in fiscal 2022. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1898,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-10155","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ninety One FY 2023 Profit Fell on Swing to Outflows; Cuts Dividend | iFintechWorld<\/title>\n<meta name=\"description\" content=\"By Joe Hoppe Ninety One said Wednesday that fiscal 2023 pretax profit fell as it swung to net outflows on a combination of macroeconomic headwinds, and\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=10155\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ninety One FY 2023 Profit Fell on Swing to Outflows; Cuts Dividend | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"By Joe Hoppe Ninety One said Wednesday that fiscal 2023 pretax profit fell as it swung to net outflows on a combination of macroeconomic headwinds, and\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=10155\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-18T00:56:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-18T00:56:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/mw_logo_social.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=10155#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=10155\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Ninety One FY 2023 Profit Fell on Swing to Outflows; 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