POWERED BY MOMENTUM MEDIA
NAB sells JANA stake
National Australia Bank has sold its 55 per cent stake in asset consulting business, JANA to the JANA senior management team.
The big banking group announced the sale today, ending around a decade of involvement in what represents one of the leading asset consultants to the superannuation industry.
Confirming the sale, NAB Asset Management executive general manager, Garry Mulcahy, said “this transition will mark an important evolution for both NAB Asset Management and JANA".
“As both businesses enter their next phases of growth, we believe the time is right for a new way forward to focus on our respective competitive strengths – NAB Asset Management as a global asset management business, and JANA as an industry-leading asset consulting firm,” he said.
“NAB Asset Management looks forward to partnering with JANA to leverage our complementary capabilities in providing investment advice and portfolio management solutions to our diverse clients.”
JANA chief executive, Jim Lamborn, said “this announcement marks an exciting next step in JANA’s 30 year history".
“The new management ownership structure model will give us greater flexibility to respond to the opportunities and challenges in the marketplace, and importantly will establish greater economic alignment between our clients and employees,” Lamborn said.
Recommended for you
Economic growth was weaker than expected, once again highlighting an economy largely sustained by population growth and government spending.
In this latest edition, Anna Shelley, CIO at AMP, shares the fund’s approach to current market conditions and where it continues to uncover key opportunities.
The mega fund has announced a $2.2 billion investment in a leading data centre platform, bringing its global real assets portfolio to nearly $60 billion.
In this latest edition, Australian Retirement Trust’s head of global real assets Michael Weaver explains the fund’s approach to finding new opportunities as it surpasses $300 billion in funds under management.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.73 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
30.15 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.71 3 y p.a(%)
