User:Bluewoodpecker/Challenger Ltd (Aus)
| Company type | Public company |
|---|---|
A$28,461.6 million (2020) [1] (2020) | |
Number of employees |  735[1] (2020) |
| Website | www |
Challenger Limited (ASX:CGF) is an Australian investment management company that is publicly listed on the ASX as a ASX 200 company. It has four divisions – Challenger Life, CIP Asset Management, Fidante Partners and Accurium. The CEO is Richard Howes and the company manages $96 billion in assets (as at 31 December 2020).[2]
History
Challenger was founded in 1985 and first listed on the ASX in 1987. In 2003, a merger between Challenger and CHP Investment Group saw a name change to Challenger Financial Services Group Ltd. In 2010 the name changed to Challenger Ltd. In 2014 Challenger Capital Notes were issued and equity raised. In 2015 the division Fidante Partners Europe was established. In 2020 equity was again raised and the company then had $85 billion under management.
Divisions
Challenger Life
This offers annuities and income to customers. It won the Association of Financial Advisers Overall Annuity Provider of the Year category in 2020. [3]
CIP Asset Management (CIPAM)
This offers asset management to international and Australian institutions and has three businesses: fixed income, real estate and solutions.
Fidante Partners
Establishes long-term alliances with investment teams to boost specialist investment management businesses.
Accurium
Formerly Bendzulla Actuarial, it provides services to self-managed superannuation funds (SMSFs). It is an actuarial certificate provider for SMSFs.
Controversies
In April 2021 Challenger revised its full-year profit forecast to the “bottom end” of its target band as the economy rebounded from the COVID-19 pandemic. The move saw shares in Challenger fall 13 per cent on April 21.[4]
In April 2020 Challenger revealed it suffered a $8.1 billion drop in funds under management after superannuation funds took $1.4 billion out the group over the March quarter as part of a sector-wide wave of early drawdowns.[5]
References
- ^ a b c d "CGF Report 2020" (PDF).
- ^ "Challenger Group | Challenger". www.challenger.com.au. Retrieved 26 May 2021.
- ^ Reporter (17 March 2021). "AFA names Life Company of the Year". www.ifa.com.au. Retrieved 26 May 2021.
- ^ "Challenger comes unstuck amid credit spread crunch". Australian Financial Review. 20 April 2021. Retrieved 26 May 2021.
- ^ "Super funds rip cash out of Challenger". Australian Financial Review. 22 April 2020. Retrieved 26 May 2021.
External links
Category:Companies based in Sydney Category:Companies listed on the Australian Securities Exchange