JANA and MLC create unique offering in Australian market

26 March 2014

NAB today announced it is bringing together JANA and MLC Investment Management to create a world class investment research, advisory and portfolio management business.

The combined business will better utilise the broad range of investment skills across the two businesses, enhance investment outcomes and product solutions for clients, and position the business to capitalise on changing market conditions.

NAB Asset Management Executive General Manager, Garry Mulcahy said: “The investment expertise and considerable achievements of both teams put us in an incredibly strong starting position.

"Together, we have an extraordinary breadth and depth of investment talent that will be even more effective in helping any client achieve their investment objectives. Client centricity is and will continue to be the bedrock of the culture.”

There will be two parts to the new business, which will operate under the JANA name, and be part of the broader NAB Asset Management division:

  • Advice and Research: This team, led by Ian Patrick, will provide asset consulting to both traditional and implemented consulting clients, and span asset allocation and investment strategy, based on JANA’s investment philosophy. This team will also provide all investment manager research for the group, consolidating and integrating this expertise with the MLC team.
  • Portfolio Management: This team, led by Jonathan Armitage, will be responsible for the construction and ongoing management of all multi-manager sector portfolios and all diversified portfolios provided through NAB Group platforms to both retail and institutional clients. Our retail products will still operate under the MLC brand and be supported by the same investment philosophy.

Today’s announcement follows the combination two years ago of the JANA Implemented Consulting and MLC Implemented Consulting teams to create the largest investment consulting team in Australia, with $32 billion under advice.

Last year JANA was awarded the Asset Consultant of the Year by Chant West, and was the asset consultant to 6 out of 10 of the top performing Australian superannuation funds. At the same time, the full portfolio of the retail MLC Horizon Series was upgraded to Lonsec’s highest rating, ‘Highly Recommended’, and by Zenith to ‘Recommended’, and Chant West has this week awarded its highest investment rating for MLC.

NAB’s Asset Management business now spans investment advisory, research and portfolio management, direct investment management, and in total manages over $130 billion in funds for Australians.

For further information:

Lauren Stewart + 61 (0) 467 812 664