Private equity, MLC and known knowns

12 June 2020

Amid persistent reports that National Australia Bank is well down the path of flogging off MLC to private equity, Outsider wonders whether any of the buyers are keeping a weather eye on the state of Australia’s superannuation industry.

A significant part of the value of MLC is tied up in its wealth and superannuation platforms and Outsider would hate to think that those advising any of the private equity bidders had overlooked the impact of the Government’s hardship superannuation early release regime or the manner in which certain Coalition back-benchers are advocating for long-term superannuation policy change.

If the private equity advisers were paying attention they would have noted that MLC’s superannuation offering was among the 10 funds named by the Australian Prudential

Related News:

Regulation Authority as having the highest level of early release outflows.

However, given the number of Coalition operatives who have found their way into the executive suites and boardrooms of financial services companies, perhaps the private equity bidders for MLC know something that Outsider does not know.




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Good conclusion. Andrew Bragg and his Coalition mates are looking after their future employment and not the retirement security of many Australians. Scumbags.

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