| Tue 26 Sep 2023, 14:30 | | INVESTEC PLC - Erratum in funds under management (FUM) disclosed in the Group pre-close trading update |
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Erratum in funds under management (FUM) disclosed in the Group pre-close trading update
Investec Limited Investec plc
Incorporated in the Republic of South Africa Incorporated in England and Wales
Registration number 1925/002833/06 Registration number 3633621
JSE share code: INL LSE share code: INVP
JSE hybrid code: INPR JSE share code: INP
JSE debt code: INLV ISIN: GB00B17BBQ50
NSX share code: IVD LEI: 2138007Z3U5GWDN3MY22
BSE share code: INVESTEC
ISIN: ZAE000081949
LEI: 213800CU7SM6O4UWOZ70
Erratum in funds under management (FUM) disclosed in the Group pre-close trading update
26 September 2023
In the trading update released on Friday, 22 September 2023, the UK Wealth & Investment FUM as at 31 August
2023, was erroneously disclosed as GBP 42 293 million instead of GBP 40 293 million. Accordingly, the Group FUM
decreased by 2.0% since 31 March 2023 to GBP 59 357 million not the previously disclosed increase of 1.3%. The
net inflows numbers and associated commentary were accurately reported.
The following announcement commentary regarding FUM performance is updated as follows, and is substantially
unchanged, saved for the change described above.
- The Wealth & Investment business funds under management (FUM) decreased by 2.0% to GBP 59.4 billion,
an increase of 0.6% in neutral currency. The positive net inflows of GBP 325 million from discretionary
FUM reflect the uncertain economic backdrop which is characterised by the cost of living crisis and
higher interest rates which negatively impacted discretionary inflows from our UK business. In the
Southern African business, net discretionary inflows of R7.5 billion were partly offset by net outflows
of R1.9 billion in non-discretionary FUM.
For further information please contact:
Investec Investor Relations
General enquiries: investorrelations@investec.co.za
Results:
Qaqambile Dwayi
SA Tel: +27 (0)83 457 2134
Brunswick (SA PR advisers)
Graeme Coetzee Tel: +27 (0)63 685 6053
Lansons (UK PR advisers)
Tom Baldock Tel: +44 (0)78 6010 1715
Key income drivers
Updated Funds under Management
GBP'm 31-Aug-23 31-Mar-23 % change Neutral currency
% change
Total Wealth & Investment FUM 59,357 60,577 (2.0%) 0.6%
UK and Other 40,293 40,747 (1.1%) (1.1%)
Discretionary 34,860 35,291 (1.2%) (1.2%)
Non-discretionary 5,433 5,456 (0.4%) (0.4%)
Southern Africa 19,064 19,830 (3.9%) 4.2%
Discretionary and annuity 10,638 10,704 (0.6%) 8.2%
Non-discretionary 8,426 9,126 (7.7%) (0.4%)
Specialist Bank - 382 (100%) (100%)
Total FUM 59,357 60,959 (2.6%) (0.0%)
About Investec
Investec Group (comprising Investec plc and Investec Limited) partners with private, institutional, and corporate
clients, offering private banking, wealth management, corporate and investment banking, and investment
services in two principal markets, South Africa and the UK, as well as certain other countries. The Group was
established in 1974 and currently has approximately 8,700 employees.
In 2002, Investec implemented a dual listed company structure with listings on the Johannesburg and London
Stock Exchanges.
Johannesburg and London
JSE Equity Sponsor: Investec Bank Limited
Date: 26-09-2023 02:30:00
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