(RTTNews) - Challenger (CGF.AX) reported its third quarter total Life sales were A$1.7 billion, up 19% from last year. Funds Management FUM was A$104.5 billion, a decrease of 10% for the quarter, driven by net outflows of A$8.0 billion, A$3.4 billion of negative investment market movements driven by the war in Iran and client distributions of A$0.3 billion.
Challenger has tightened its fiscal 2026 normalised basic EPS guidance to a range of between 66 and 70 cents per share.
Challenger also announced it will redeem all Challenger Capital Notes 3 on 25 May 2026. The redemption enables the business to operate with a lower target PCA range, while maintaining the existing risk appetite.
Challenger shares are trading at A$8.28, down 1.31%.
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