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# Ninety One's clients now own more than 5% of Johann Rupert's Remgro
- URL: https://www.businessbagel.com/ninety-one-clients-remgro-five-percent/
- Published: 2026-08-19T08:00:00.000Z
- Updated: 2026-08-19T07:59:59.000Z
- Description: It is the second crossing notice in three weeks, and a fair measure of what the Sanlam deal did to the asset manager's size.
- Author: Christian Maidman
- Tags: Markets, Business Bagel News

Remgro told the JSE on Monday morning that clients of Ninety One SA now hold 5.0156% of its ordinary shares. The notice went out under section 122 of the Companies Act, which requires a company to tell shareholders when it is notified that someone has acquired a beneficial interest in its securities, and Remgro filed the matching notices with the Takeover Regulation Panel and the Companies and Intellectual Property Commission. The shares are held on behalf of Ninety One's clients rather than as a corporate stake by the manager itself.

## Not the first crossing

An earlier Remgro filing, on 29 July, already put the same client holding at 5.0004%. Financial Mail reported on 6 August that Ninety One had nudged across the 5% line at Remgro, and had lifted its Mr Price holding to 5.0608% in the same stretch. Monday's announcement is a move from 5.0004% to 5.0156%, so the interesting part is not the arrival but the size of the buyer.

## What the Sanlam deal bought

Ninety One's assets under management rose 31% to £171.8 billion in the year to 31 March 2026, about R3.9 trillion, from £130.8 billion. Most of that jump came from completing a 15-year agreement with Sanlam, which transferred Sanlam Investment Management's active business in South Africa and Sanlam Investments UK, adding £18.3 billion, roughly R401 billion. Client flows turned too, from £4.9 billion out the previous year to £2.8 billion in. Adjusted operating profit rose 12% to £211.3 million.

Founder and chief executive Hendrik du Toit said the demand recovery for emerging markets is visible and Ninety One's offering competitive, and that the firm is in a stronger position than a year ago.

A manager running that much money needs positions big enough to matter, and Remgro is an efficient way to get one. Johann Rupert's family investment company, which Anton Rupert started in 1948 as the Rembrandt Group, holds a single line that carries FirstRand, Discovery and Mediclinic at the top, and further down Vumatel, Seacom, Dark Fibre Africa and Heineken Beverages. The same holding stretches into sport and education, from the Blue Bulls to the Stellenbosch Academy of Sport. Two 5% notices in three weeks is what R3.9 trillion looks like when it lands on somebody else's share register.