Challenger Confirms Strong Long-Term Industry Growth Prospects. AUD 11.50 FVE Unchanged
Challenger Limited’s investor day confirmed our long-term positive view on Australia’s leading annuities provider, with the business well positioned to take advantage of strong long-term industry growth trends. As expected, fiscal 2017 guidance for normalised core operating earnings, or COE was confirmed at the midpoint of the AUD 620-640 million target range. Our fiscal 2017 COE forecast of AUD 635 million is unchanged as is our AUD 396 million net cash profit forecast. Our fiscal 2017 AUD 36 c...Challenger is an investment manager with offices in Australia and London. Co.'s operating segments are: Life and Funds Management (FM). The Life segment comprises Challenger Life Company Limited (CLC), a provider of annuities and guaranteed retirement income products, and Accurium Pty Limited, a provider of self-managed superannuation fund actuarial certificates. The FM segment comprises Fidante Partners and Challenger Investment Partners (CIP). Fidante Partners provides administration and distribution services. CIP develops and manages assets under Co.'s brand for CLC and third party institutional investors. The investments managed by CIP are mainly in fixed income and commercial property.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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