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NAB Wealth Arm Hires Canadian Hedge Fund Advisor

Vanessa Doctor

19 October 2012

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.