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 Australian share market, or S&P/ASX 200 (INDEXASX:XJO)(ASX:XJO), is expected to open higher on Tuesday.
