NAB outlines Your Prosperity closure
National Australia Bank has confirmed it will close down its Your Prosperity online financial services website by February 2004. All master trust accounts will be transferred to other NAB products or closed while customers of the online share trading facility will be moved to National Online. Your Prosperity has 7,300 DIY investors, employs 32 staff and has $342m funds under management. It was inherited in 2000 with NAB's $4.6 billion acquisition of MLC from Lend Lease. It's believed that up to $50 million has been invested in the venture.