Challenger launches new product
|
|
Annuities specialist Challenger has launched a new product into the market specifically aimed at the platform market.
The company announced today that it had launched the Challenger Guaranteed Income Fund, which it said would invest in annuities issued by Challenger Life, with the product being offered on the BT Wrap.
Commenting on the new offering, Challenger Life chief executive, Richard Howes, referred to recent OECD research suggesting Australians should invest more of their superannuation in annuities to reduce portfolio risk.
He said the new Guaranteed Income Fund was aimed at providing an appropriate product to meet that market need.
The Challenger product will provide unit holders with set monthly distributions, and a return of capital at maturity.
Commenting on the product's placement on the BT Wrap platform, the head of BT Wrap, Chris Freeman, said it reflected increasing demand from advisers for retirement product solutions that catered for both market and longevity risk.
AUTHOR
Mike Taylor
Recommended for you
While crypto continues to gain traction among investors globally, improving accessibility for financial advisers is key to helping them serve the demand from younger clients, but there are some barriers still hindering adoption.
Investment platform Praemium has reported strong 2024–25 financial year results, with large increases across a range of business metrics, which it credits to the firm’s strategy and high-net-worth focus.
Alternative investment manager Regal Partners has set a target of doubling its offshore funds under management within three years amid strong inflows from offshore investors in the first half of 2025.
Fitzpatricks Advice Partners has formed a strategic alliance with two chapters of a global business support and networking organisation, expanding its offering for the firm’s advisers.
