Challenger comes unstuck amid credit spread crunch
Apr 20, 2021 – 10.07am
Share
Diversified financial group Challenger has revised its full-year profit forecast to the “bottom end” of its target band and has pledged to rein in overly-generous annuity pricing after it was wrong-footed by an unexpected crunch in credit spreads as the economy rebounds out of COVID-19.
Challenger, which is Australia’s largest provider of longevity insurance products known as annuities, on Tuesday trumpeted an 8 per cent rise in assets under management (AUM) over the March quarter, taking the group’s AUM over $100 billion for the first time and making it the third-largest active asset manager in the country.
Challenger issues profit warning
investordaily.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investordaily.com.au Daily Mail and Mail on Sunday newspapers.
Bank eyes broker channel as it revamps
theadviser.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theadviser.com.au Daily Mail and Mail on Sunday newspapers.
A
Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient: 1. Obtains access to the information in a personal capacity; 2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services; 3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body; 4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;