- AJ Bell is good at monetising its customers’ assets, argues the manager
- The company has a strong balance sheet and looks undervalued
Ben Needham, manager of Ninety One UK Equity Income, explains why the fund invests in AJ Bell:
AJ Bell (AJB) is one of the largest investment platforms in the UK, with more than £80bn of assets and 500,000 customer accounts. It is an ‘economies of scale’ investment case, with growing assets thanks to the structural tailwinds in the UK savings market combined with a good value proposition. An increasing portion of the UK population has to take ownership of its wealth and wants to invest.