Kim McFarland, finance director of Ninety One Plc, has seen the value of her stake in the London- and Johannesburg-listed asset manager climb to $54.4 million, strengthening her position among South Africa’s wealthiest executives. The recovery follows a prolonged share price decline and comes as she continues to work alongside founder and CEO Hendrik du Toit.

McFarland owns 20,199,846 shares in Ninety One, comprising 1,102,316 directly held shares and 19,097,530 indirectly held shares. Her investment has benefited from a recent recovery in the asset manager’s Johannesburg-listed shares, reversing part of the losses recorded earlier in the year as market valuations came under pressure.

A $2.16 million recovery

Over the past month, the market value of McFarland’s shareholding has increased by R36.6 million ($2.16 million), rising from R884.35 million ($52.23 million) on Oct. 15 to approximately R920.91 million ($54.38 million). The gain reflects a 4.1 percent recovery in Ninety One’s share price on the Johannesburg Stock Exchange over the period.

The rebound follows a difficult stretch for the asset manager’s shares. Between Jan. 27 and Oct. 15, the value of McFarland’s holding declined by approximately R270 million ($15.9 million), falling from R1.15 billion ($68.14 million) to R884.35 million ($52.23 million). The decline reflected a 23 percent contraction in the company’s share price.

The latest recovery has helped restore some of that lost value, bringing McFarland’s investment closer to the $55 million mark. Although the shares remain below their January levels, the improvement offers a measure of relief for the finance director, whose substantial ownership position makes her personal wealth closely tied to the company’s market performance.

Three decades in asset management

McFarland has spent more than three decades in financial management and asset management, building her career around the financial and operational development of major South African businesses. She joined Investec Asset Management in 1993 as chief financial officer and chief operating officer, taking responsibility for the business’s financial management and operations.

She holds degrees in commerce and accounting and qualified as a chartered accountant with Price Waterhouse in 1987. She subsequently earned an MBA from the University of Cape Town, combining professional accounting credentials with business management experience that would shape her career in the investment industry.

Before joining Investec, McFarland worked as financial and operations manager at two South African life insurance companies. Her appointment to the boards of Investec plc and Investec Ltd. as an executive director in October 2018 marked another milestone in a career that had increasingly placed her at the center of the group’s financial leadership.

From Investec to Ninety One

McFarland became finance director of Ninety One on March 16, 2020, following the asset manager’s separation from Investec and its subsequent listing. She had joined Ninety One’s board in October 2019, ahead of the demerger, and assumed responsibility for the finance function as the business began operating as an independent listed investment manager.

Following completion of the transaction, she resigned from the boards of Investec plc and Investec Ltd. to concentrate on her responsibilities at Ninety One plc and Ninety One Ltd. Her transition ensured continuity in the company’s financial leadership as it established its position as an independent investment management group.

Working alongside Du Toit, McFarland has helped oversee a business that has expanded its assets under management, recovered from client withdrawals and strengthened its earnings. The company’s latest full-year results reflect the contribution of a major insurance-sector transaction and renewed investor demand for its active investment strategies.

Sanlam deal lifts assets

For the financial year ended March 31, Ninety One reported a 12 percent increase in adjusted operating profit, supported by the completion of a landmark transaction with Sanlam Limited. and improved client flows. Assets under management increased 31 percent to £171.8 billion ($230.8 billion), compared with £130.8 billion ($175.5 billion) a year earlier.

The Sanlam transaction contributed £18.3 billion ($24.5 billion) in active asset management assets, providing a substantial boost to the group’s investment platform. The increase strengthened Ninety One’s scale across its markets and helped lift its assets under management as the business sought to rebuild momentum following a period of client departures.

For McFarland, Ninety One’s financial recovery extends beyond her executive responsibilities. Her 20.2 million-share stake gives her significant exposure to the company’s performance, with the value of her investment tied to its ability to sustain positive inflows, expand assets under management and strengthen earnings.