CBA ups stake in brokerage

Jessica Darnbrough

CBA's consolidated asset management division Colonial First State Global Asset Management has increased its shareholding in Mortgage Choice.

According to an ASX announcement by the brokerage, CBA's funds management division increased its stake in Mortgage Choice to 10.14 per cent – from 7.9 per cent.

The shift happened on the same day that CBA lifted its standard variable rates 20 basis points above the RBA.

Mortgage Choice is not the only brokerage CBA has a stake in.

In August 2008, CBA increased their stake in Aussie to 33 per cent, giving it minority representation on the brokerage's board.