Ninety One posts drop in assets under management during market volatility
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(Reuters) - Asset manager Ninety One Plc , in its first set of results as a listed company, reported a 7% drop in assets under management (AUM) as the coronavirus crisis pummelled global financial markets.AUM dropped to 103.4 billion pounds at the end of fiscal 2020 ended March 31 from 111.4 billion pounds a year earlier.Asset managers all over the world have posted a plunge in AUMs as investors take a risk-off approach in light of an impending recession after economies came to a screeching halt..