CBA linked to Insight funds

Commonwealth Bank is one of four entities considering a bid for a £75 billion portion of the fund management arm Lloyds Banking Group, the Sunday Times reported.

Lloyds is seeking a buyer for third party funds business of Insight Investment Management.

Others invited to make an offer according to the newspaper include Schroders, Hellman & Friedman and Advent International. Abdallah Nauphal, the managing director of Lloyds' asset-management arm, is working on a bid with one of the two private equity bidders.

The Sunday Times speculated the value of the Insight business may range from £200 million and £300 million.