2312 GMT [Dow Jones]--Generation Development Group's agreement with BlackRock to co-design and distribute a new product aimed at providing tailored solutions for Australian retirees gets a tick from Jefferies. It views the alliance as an incremental step that could lead to consistent growth for GDG over many years. "At this early stage, product development will be the priority, followed by adviser education," analyst Simon Fitzgerald says. "These elements are essential to building a successful product, even if the time frame to meaningful earnings growth is difficult to judge." Jefferies highlights the example of GDG's Lifetime annuity. It launched in 2022 and is yet to reach scale. (david.winning@wsj.com)
(END) Dow Jones Newswires
May 08, 2025 19:14 ET (23:14 GMT)
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