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Challenger Ltd (ASX: CGF) is Australia’s largest provider of ‘annuities’, which are financial products typically sold to retirees who seek reliable income. Challenger was established in the mid-80’s and listed on the ASX in 1987. In 2018, Challenger managed more than $90 billion between its investment portfolio, which is the sum of the money invested by retirees who buy annuities, and its fund management business.
The Challenger Ltd (ASX:CGF) share price is down another 3.4% this morning after the 17% fall yesterday due to a profit warnings.
The S&P/ASX 200 (INDEXASX:XJO)(^AXJO) is expected to open flat today, the USA’s S&P 500 Index (.INX) went up 0.05% on Wednesday.
Australia’s share market, or the All Ordinaries Index (INDEXASX:XAO)(ASX: XAO), is currently down 0.21% at lunch.
Challenger Ltd (ASX:CGF) shares have fallen 15% in early trade after issuing earnings guidance for the upcoming half year result.
The S&P/ASX 200 (INDEXASX:XJO)(^AXJO) is expected to open lower today, the USA’s S&P 500 Index (.INX) went down 1.42% on Tuesday.
Challenger Ltd (ASX:CGF) shares have substantially outperformed the Australian sharemarket or S&P/ASX 200 (^AXJO) (INDEXASX:XJO) over the past five years.
Australia’s share market, or the All Ordinaries Index (INDEXASX:XAO)(ASX:XAO), is currently down 1.30% at lunch.
Australia’s share market, or the All Ordinaries Index (INDEXASX:XAO)(ASX:XAO), is currently up 0.04% at lunch.
Australia’s share market, or the All Ordinaries Index (INDEXASX:XAO)(ASX:XAO), is currently up 0.24% at lunch.
