Alongside its financial results,Challenger unveiled plans to build a non-bank lender with US private equity firm Apollo in what could be the beginning of a more collaborative working relationship between the pair.
Challenger’s outgoing chief executive Richard Howes says the key to surviving COVID-19 volatility is ensuring portfolios are defensively positioned by investing in government buildings and neighbourhood shopping centres.
Two global firms have partnered to buy 15 per cent of Challenger,fuelling speculation the ASX-listed annuities specialist might be ripe for a takeover.
Investors were quick to sell off Challenger stock after the half-year results were a fizzer. But there is good news amid the ruin.
Challenger's CEO maintains a positive outlook despite bleak domestic annuity sales and plummeting investment values.
Challenger is asking investors to tip in up to $300 million in new equity so it can withstand any further market volatility and pounce on opportunities.
Analysts say the annuities specialist might be due for a capital raise after a sell-off in equities markets punched a hole in its assets under management.
The S&P/ASX 200 closed at the highest value since January 24 after a strong session on Tuesday.
Montaka's Andrew Macken looks for four things when choosing a company to bet against.
The listed retirement products provider said a"lower-for-longer"interest-rate environment crimped investment earnings and performance fees.
Fiscal 2020 earnings estimate falls short of analysts'expectations