National Australia Bank's direct asset management business nabInvest has no plans to fold Aviva Investors into its existing equity capabilities, and will continue to run it as a separate manager.
"Aviva Investors will join our other 100 per cent-owned businesses such as Antares Fixed Interest, Presima and MLC Private Equity," MLC asset management executive general manager Gary Mulcahy told InvestorDaily yesterday.
"These businesses are currently a part of the nabInvest stable of asset managers, all of which are under pinned by investment teams with strong track records of investment performance," he said.
Before the acquisition of Aviva Investors, nabInvest had already partnered with a number of Australian equity managers, including Lodestar, Northward and small cap manager Fairview.
NabInvest also owns a minority stake in Pengana Capital, which offers a concentrated Australian equity fund.
But Mulcahy expects to be able to grow Aviva Investors' $5.5 billion fund under management in both the retail and institutional sectors.
"The investment team of Aviva Investors will continue to be led by head of equities Glenn Hart and deputy head of equities Nick Pashias who are strongly committed to see Aviva Investors grow in both the retail and institutional segments," he said.
"NabInvest looks forward to supporting the Aviva Investors team in their future success," he said.
Mulcahy has been involved with nabInvest since its inception in 2007, when he become the firm's first chief executive.
Since March 2009, he oversees MLC's multi-manager investment activities, as well as nabInvest.
