** Jefferies says investment products provider Generation Development's GDG.AX recent contract win to provide retirement product solutions indicated another growth engine beyond managed accounts that is more "flow-driven" instead of sensitive to mandate wins

** GDG on Wednesday said its unit Generation Life had entered into an MoU with Aussie retail super fund Colonial First State (CFS) and BlackRock BLK.N

** Under the MoU, CFS intends to integrate GenLife's investment bonds and investment-linked retirement income solutions onto its platforms

** Jefferies says the deal transitions GDG's products from adviser-direct channels into an institutional platform environment

** Adds GDS stands to benefit as Aussie retirement-phase assets are projected to hit A$1.75 trillion-A$2 trillion by 2035, while adviser population halves to around 15,000

** Jefferies says changes in Aussie retirement landscape creates a structural bottleneck that will favour platform-embedded turnkey solutions of the kind GDG provides

** Brokerage rates stock "buy", price target A$6.35

** Stock down 31.9% YTD, as of last close