The demerger and independent listing of Investec Asset Management (IAM) remains on track for Q1 2020, subject to Investec Group shareholder approvals.

IAM will list as a Dual Listed Company (DLC) in London and Johannesburg.

Once the company lists as an independent organisation, IAM’s name will change to Ninety One.

“We have chosen a name with a strong connection to our heritage, that feels authentic to who we are and will help us to stand out in a competitive market,” said Founder Hendrik du Toit.

“We started in South Africa, in ‘91. Back then, change was coming. With change came the chance to invest in a better future. Being part of that change made us who we are.

It taught us to be bold, agile and resilient. To believe that active investing can be a force for good. Our journey taught us to see the world differently, to recognise and react to change and uncertainty. Today, that’s what sets us apart,” he said.

“We are changing our name, but not who we are. Our new name is Ninety One, recognising the momentous time in which we started our firm,” he added.

In September 2018, following a strategic review, the Boards of Investec Group announced that Investec Asset Management would become a separately listed entity.

Investec Investment Management Services (Investec IMS), an investment platform business, together with Investec Assurance, will remain wholly-owned subsidiaries of the company.

Upon listing, Investec IMS will become Ninety One Investment Platform. Beyond the name change, there will be no change to the team, the service or the product range.

Corporate legal entities will change at the time of listing.

Fund names and associated legal entities will change throughout the second quarter of 2020.

The demerger will not affect the composition of the portfolio management or client service teams across the business.

The proposed leadership structure for IAM post demerger and listing was confirmed in August 2019.

At the time of listing, Hendrik du Toit will return as CEO and John Green and Domenico “Mimi” Ferrini will assume Deputy CEO roles.

“This structure ensures the long-term stability and continuity of the leadership team that has built the firm over the last three decades,” du Toit said.

“For our clients and employees, it provides assurance that our culture, purpose and values will not change. We stay focused on the ongoing development of a talented and passionate team that seeks to consistently deliver the investment outcomes and broader partnership our clients deserve,” he added.