Challenger Logs 1% Rise in Fiscal Q1 Assets Under Management, Reaffirms Profit Guidance; Shares Down 4%

MT Newswires Live

Oct 16, 2024

Challenger (ASX:CGF) reported a 1% rise to AU$128 billion in assets under management for the fiscal first quarter, according to a Wednesday filing with the Australian bourse.

The investment manager said total Life sales declined 14% to AU$2.4 billion, including the impact of a AU$619 million group lifetime annuity policy win in Q1. Excluding the policy win, total Life sales rose 10% on the back of "exceptional retail lifetime and Japanese annuity sales growth and strong Challenger Index Plus sales."

Funds under management under the Funds Management division climbed 1% to AU$119 billion due to positive investment market movements.

Challenger reaffirmed its normalized net profit after tax guidance of between AU$440 million and AU$480 million for the fiscal year ending June 30, 2025.

Shares of the company were down 4% in recent trade.

Price (AUD): $6.56, Change: $-0.27, Percent Change: -3.89%

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Excluding the policy win, total Life sales rose 10% on the back of \"exceptional retail lifetime and Japanese annuity sales growth and strong Challenger Index Plus sales.\"</p><p>Funds under management under the Funds Management division climbed 1% to AU$119 billion due to positive investment market movements.</p><p>Challenger reaffirmed its normalized net profit after tax guidance of between AU$440 million and AU$480 million for the fiscal year ending June 30, 2025.</p><p>Shares of the company were down 4% in recent trade.</p><p>Price (AUD): $6.56, Change: $-0.27, Percent Change: -3.89%</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4125","symbol_name":"广播","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2475242622","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2475242622","pubTimestamp":1729045844,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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