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Bank of Australia plans Insight swoop, say reports

Commonwealth Bank of Australia is planning to make a bid for Insight Investment Management’s third-party funds business, according to a report in The Sunday Times.

The bank is one of a number of bidders with fund manager Schroders and private equity firm Hellman & Friedman also looking at the business, which is expected to fetch between £200m-£300m.

Insight launched seven years ago and currently has £116bn of assets under management. The firm was taken on by Lloyds as part of HBOS deal last year.

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