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.
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