Little value in Navigator
IOOF is very close to agreeing with National Australia Bank to buy the latter's Navigator platform, the Financial Review reported in its Street Talk column. NAB will sell the platform for what the newspaper described as a "nominal price" and including "assets under management and some distribution", according to the newspaper.The bank needs a buyer for the platform, purchased along with the remainder of the Aviva business in Australia a year ago, in order to progress its effort to buy the Australian and New Zealand businesses of Axa Asia Pacific.