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Australasian Business Intelligence, February, 2007
Byline: Simon de Bruyn
Feb 12, 2007 (BRW - ABIX via COMTEX) -- Promina's managed funds businesses will be affected by the proposed merger with Suncorp-Metway. Asteron and Tyndall Investment Management account for a little over one quarter of Promina's net profit. Suncorp's wealth management division provides 11 per cent of total operating profit. There have been restructuring and executive changes at Asteron and Tyndall. The merged asset management business will have about $A24 billion in funds under management. The range of products will be broadened and the distribution network expanded. Suncorp's cross-selling approach will be utilised.
Publication Date: 8 February 2007
PROMINA GROUP LIMITED - ASX PMN
SUNCORP-METWAY LIMITED - ASX SUN...
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