The company said MLC had more than 1200 financial advisers, ran the largest
retail superannuation fund in the country, had $ 199 billion in assets under management and 3300 staff.
National Australia Bank's MLC - home to the country's largest
retail superannuation fund and $ 199 billion in assets under management - officially joined the bulging list of financial services sector initial public offering candidates on Thursday morning, when NAB chief executive Andrew Thorburn flagged intentions to divest the business.
NAB said on Thursday that MLC had more than 1200 financial advisers, ran the largest
retail superannuation fund in the country, had $ 199 billion in assets under management and 3300 staff.
Not exact matches
These include managers of
retail funds, institutional
funds management firms as well as
superannuation funds.
Private equity
funds are usually not available to
retail investors as the minimum investment is often $ 500,000 or higher, however
retail investors may have exposure to private equity
funds through their
superannuation fund.
Around 15 percent of those are
retail investors, with and the balance being institutions — such as large
superannuation funds, endowments and pension
funds.