S&P holds Aviva ratings steady
Standard & Poors Funds Services (S&P) has announced its ratings on all Aviva Investors Australia products remain unchanged, following the sale of the business to nabInvest - the direct asset management arm of National Australia Bank (NAB).
Aviva Investors Australia stated that the ownership change would not affect the management of its Australian equity capabilities, including the current make-up of its investment team.
The transaction is expected to close this quarter, and is subject to regulatory approval.
Aviva Investors Australia has approximately $5.5 billion in funds under management, and nabInvest manages approximately $51 billion via in-house management teams and external partners, according to NAB.
Recommended for you
A former Brisbane financial adviser has been charged with 26 counts of dishonest conduct regarding a failure to disclose he would receive substantial commission payments for investments.
Inefficient data processes and systems mean advisers are spending over half of their time on product implementation and administration at the expense of clients, according to research.
With the regulator announcing its enforcement focus for 2025 last week, law firm Hall & Wilcox examines the areas which have dropped down the list in priority for the regulator.
South Australian financial advice and accounting business Perks has extended its paid parental leave program from 12 to 26 weeks, putting it on par with big four firms.
