MLC, the wealth management arm of National Australia Bank, has strengthened its hedge fund offering by partnering with a Canadian alternative investment firm. 

Diversified Global Asset Management Corporation has been chosen as the firm's hedge fund advisor to help it grow its hedge fund assets from A$500 million to at least A$1 billion in the next 12 to 18 months. 

In the past months, MLC has been conducting a global search for a partner that would help it expand its coverage of alternative investment managers and strategies. DGAM is based in Toronto and has over US$5 billion in managed and advised assets.