nabInvest acquires Aviva Investors
NAB's direct asset management business, nabInvest, has today announced the acquisition of investment manager, Aviva Investors Australia.
Aviva Investors is the Australian investment management business of global parent, Aviva Investors, which has approximately $5.5 billion funds under management, according to NAB.
CEO of nabInvest, Garry Mulcahy,said the strong investment capability of Aviva Investors in a range of Australian equity strategies is a "compelling opportunity".
"Domestic investors heavily favour Australian equities, and it's important we provide choice in our offer," Mulcahy said.
"Our nabInvest strategy is, and always has been, to create a market leading direct asset management business diversified within and across a broad range of asset classes."
Head of Equities at Aviva Investors, Glenn Hart, said despite the acquisition, it's business as usual at the funds manager.
"We will utilise our existing well established investment process, and look forward to continuing to focus on delivering quality investment outcomes for our clients," he said.
Recommended for you
With the final tally for FY25 now confirmed, how many advisers left during the financial year and how does it compare to the previous year?
HUB24 has appointed Matt Willis from Vanguard as an executive general manager of platform growth to strengthen the platform’s relationships with industry stakeholders.
Investment manager Drummond Capital Partners has announced a raft of adviser-focused updates, including a practice growth division, relaunched manager research capabilities, and a passive model portfolio suite.
When it comes to M&A activity, the share of financial buyers such as private equity firms in Australia fell from 67 per cent to 12 per cent in the last financial year.
