Ninety One - 1792 Exchange

Rating Overview

Ninety One is Medium Risk.

Ninety One is Medium Risk. The company often yields to political activism in shaping corporate governance, potentially alienating consumers, dividing employees, and harming shareholders. Ninety One elevates merit, excellence, and integrity ahead of race and identity-based policies. The company occasionally embraces corporate initiatives that redirect its central focus from business goals to partisan policies and divisive issues at times. This approach fails to safeguard free exercise, free speech, and free enterprise.

Rating Criteria

Corporate Weaponization Risk Levels
Criteria	Risk Level
Cancellations	Medium Risk
Discriminatory Philanthropy	Lower Risk
Employment Protection	Medium Risk

Corporate Weaponization ⓘ

Corporate Governance and Public Policy Risk Levels
Criteria	Risk Level
Advocacy Bias	High Risk
Funding	Lower Risk
Political Actions	No Data

Corporate Governance and Public Policy ⓘ

Rating Criteria Detail

Criteria Risk Level Rationale

Corporate Weaponization

Criteria:

Has canceled customers, suppliers, or vendors due to their political views or religious beliefs OR corporately boycotts, divests, or sanctions regions, people groups, or industries.

Risk Level:

Medium

Rationale:

Ninety One is a signatory of the Principles for Responsible Investment, incorporating ESG issues into investment analysis, decision-making, and other business practices (1)(2). The company integrates ESG into its business practices. From its 2026 Sustainability Report: “We invest responsibly by:
Integrating ESG factors into our investment
processes to deepen our understanding of
opportunities and risks” (3). However, Ninety One has not canceled customers, suppliers, or vendors based on political views or religious beliefs (4).

Criteria:

Charitable giving (including employee matching programs) policies or practices discriminate against charitable organizations based on views or religious beliefs.

Risk Level:

Lower

Rationale:

Ninety One does not appear to discriminate against charitable organizations based on views or beliefs (1)(2).

Criteria:

Employment policies fail to protect against viewpoint or other discrimination and/or are ideological in nature.

Risk Level:

Medium

Rationale:

Ninety One does not provide viewpoint protections for its employees (1)(2).

Corporate Governance and Public Policy

Criteria:

Uses corporate reputation to support causes, organizations, or policies hostile to freedom of expression.

Risk Level:

High

Rationale:

Ninety One was part of the Net Zero Asset Managers initiative prior to NZAM’s suspension in 2025. Its membership indicated a commitment to carbon neutrality with its investments by 2050 (1)(2)(3). The company is a signatory of the 2026 relaunch of the Net Zero Asset Managers Initiative, which provides resources to asset managers to aid in setting climate goals. Based on the company’s NZAM profile page, it has individually committed to “A portfolio coverage target of 56% of our corporate assets under management to have transition pathways, including science-based targets, by 2030” (4)(5)(6). Ninety One supports DEI within its business practices. From its CEO Statement on Diversity and Inclusivity: “We have deeply embedded our single core value, namely to do the right thing and we have made relationships as important as results. This includes embracing diversity and inclusivity” (7). The company supports ESG within its business practices. From its 2026 Sustainability Report: “Our approach to ESG integration is grounded in the belief that investment outcomes can be improved by a deep
understanding of material ESG-related risks and opportunities and their potential to affect value” (8).