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.
AUTHOR
Recommended for you
As the government announces a public inquiry into the collapse of Dixon Advisory, risk adviser Richard Silberman has detailed the three areas that typically lead to an AFSL's collapse.
With a growing number of advisers now running their own business, they need to pivot their career identity to being a business owner rather than just as a financial adviser if they want to futureproof their business.
Zenith Investment Partners has launched a range of new managed account portfolios over the past quarter, including on Insignia Financial’s Expand platform.
The financial services technology firm has officially launched its digital advice and education solution for superannuation funds and other industry players.
