Aviva today announces the sale of Aviva Investors Australia Ltd (“AIAL”) to nabInvest, National Australia Bank’s direct asset management business.
Aviva today announces the sale of Aviva Investors Australia Ltd (“AIAL”) to nabInvest, National Australia Bank’s direct asset management business.
The sale is consistent with Aviva Investors' strategy to focus on growing its Asian regional hub in Singapore, and consistent with Aviva group’s strategy to focus on 12 priority markets.
The transaction, which is subject to regulatory approval, is expected to close in the third quarter of 2011.
AIAL had IFRS gross assets of A$32 million at 31 December 2010 and assets under
management of approximately A$5.5 billion at 31 July 2011.
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Notes to editors:
Aviva Investors is the global asset management business of Aviva plc. The business delivers investment management solutions, services and client-driven performance to clients worldwide. Aviva Investors operates in 14 countries in Asia Pacific, Europe, North America and the United Kingdom with assets under management of £269 billion at 30 June 2011.
Aviva is the world’s sixth largest* insurance group, serving over 53 million customers across Europe, North America and Asia Pacific
Aviva's main business activities are long-term savings, fund management and general insurance, with worldwide total sales of £47.1 billion and funds under management of £402 billion at 31 December 2010
We are the largest insurance services provider in the UK and one of the leading providers of life and pensions products in Europe
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*based on 2010 published life and pensions PVNBP on an MCEV basis, total investment sales and general insurance and health new written premiums, including share of associates’ premiums.