Challengersays it is still committed to the New Zealand market, despite laying off two-thirds of its sales team and its marketing manager.
“We have spent too much not to be committed,” chief executive John Rowley says.
Challenger offers its Endowment Warrants, the recently released Bank Endowment Warrants, an ethical fund, the Target One Million savings scheme, and a tax efficient Australasian managed fund in New Zealand. It is keen to offer annuities also.
The company has aggressively been trying to build its presence in the New Zealand market over the past 18 months, and has spent a considerable sum on this exercise.
—Philip Macalister
