National Australia Bank Limited
(ASX:NAB) has eclipsed AMP Limited
(ASX:AMP) as Australia's largest manager of corporate superannuation, according to media reports.
Research by DEXX&R shows NABs funds under management in its corporate super division lifted 25.3 per cent to $24.1 billion in the year to June, buoyed by a contract to manage the retirement savings of BHP Billiton Limited
(ASX:BHP) staff.
That saw NAB leapfrog AMP, with $23.9 billion in managed funds.
NAB's dual platforms in the corporate super division were also a point of strength, according to the reports.
NAB generated a net profit of $2.5 billion in the first half of fiscal 2013.
