Challenger grows FUM
Challenger Financial Services group has grown its funds under management (FUM) by 14.9 per cent to total $22.1 billion as of 31 March.
In a statement released to the Australian Securities Exchange (ASX) today, Challenger said life assets under management had increased by 12 per cent to $6.6 million, while quarterly sales of annuities and associated products totalled $241 million.
The ASX announcement said unlisted funds under management or mandates rose by 32 per cent for the 12-month period.
AUTHOR
Mike Taylor
Recommended for you
The profession is up by almost 200 advisers for the new financial year, with August continuing the consistent weekly positive gains.
WT Financial has announced its second “Hubco” with a combined valuation of $7.8 million, while its first one has successfully incorporated and is now making its own acquisitions.
The Australian Wealth Advisors Group has entered into a joint venture with a Melbourne financial services firm to launch a wealth manager.
Remediation and litigation costs have led AMP to announce a reduced statutory net profit after tax of $98 million for the first half of 2025.
