Aviva Australia’s Navigator investment platform today announced two business lines have just achieved the A$1 billion milestone for funds held under administration.
Aviva Australia’s Navigator investment platform today announced two business lines have just achieved the A$1 billion milestone for funds held under administration.
Navigator Business Super (formerly branded, Navigator Super Solutions Employer Service) and the Navigator Pre Select multi-managers funds, launched respectively in 1998 and 2003, reached the A$1 billion target during October and are now leading growth areas for the Navigator business.
Aviva’s chief executive officer, Allan Griffiths, said it was very exciting to see two relatively new lines of business reaching the A$1 billion mark at the same time.
“These results will further drive the Navigator business forward in 2007. We have already exceeded the A$1 billion market for our alliance products so it is very clear that our business is poised for continual growth and development in the future,” said Allan.
During 2006, Navigator has been developing its Business Super presence, announcing earlier in the year an agreement with Manchester Unity (MU) to provide significantly reduced rates on MU health plan options for Navigator Business Super members.
Navigator Business Super Service has more than 3,500 employer clients and more than 90,000 members. The product has achieved superior external ratings, including the highest rating from both Chant West (5 Apples) for small plans and Rainmaker (AAA Selecting Super rating).
The Navigator Pre Select multi-manager funds are available on all Navigator investment super products and have achieved top quartile performance compared to other multi-manager funds. The funds also hold a "Recommended" rating from Lonsec.
-ends-
For further information please contact:
Simon Morgan
Group General Manager Public Affairs
Phone: (03) 9829 8892
Mobile: 0407 966 632
Notes to editors:
- Aviva Australia is a group of two specialist financial services companies: Navigator and Norwich Union Life Australia Ltd. Portfolio Partners is the Australian funds management arm of Aviva plc. Through these companies we provide products and services in the areas of wealth creation and wealth protection for more than 300,000 customers throughout Australia.
- Globally, Aviva Australia is part of Aviva plc, the world's sixth largest insurance group, the largest insurer in the UK and one of the top five life companies in Europe. Aviva was formed in May 2000 through the global merger of CGU plc and Norwich Union plc.
- Aviva is a leading provider of life and pensions products to Europe and has substantial businesses elsewhere around the world. Its main activities are long-term savings, fund management and general insurance. It has premium income and investment sales from continuing operations of A$77.6 billion, and more than A$683.9 billion of assets under management (as at 9 January 2006). The group has approximately 59,000 employees and 30 million customers worldwide.
- The information in this document reflects Navigator Australia Limited's ('Navigator') ABN 45 006 302 987 understanding of existing legislation, proposed legislation, rulings etc as at the date of issue. In some cases the information has been provided to us by third parties. While it is believed the information is accurate and reliable, this is not guaranteed in any way. The information given in this document is of a general nature and has not taken into account the investment objectives, financial situation or particular needs of any particular person and it is not a substitute for professional advice. A PDS is available from NULIS or your financial adviser. Applications to invest in investment product(s) through the investor directed portfolio service ("IDPS"), operated by Navigator, must be made by completing the application form attached to the applicable IDPS Guide Offer Document and Investment Allocation Authority. Before making an investment decision on the basis of the information above, a prospective investor needs to consider, with or without the assistance of a professional adviser whether the information is appropriate in the light of their particular investment needs, objectives and financial circumstances. Aviva does not receive any remuneration in relation to the provision of information available from this press release which is of a general nature only.