18/11/2025 09:28

Challenger Ltd (CGF) $8.92

The provider of retirement income products and annuities, complemented by a growing funds management business has delivered for investors through 2025, surging almost 50% when many other ASX fund managers have struggled.

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03/07/2025 09:31

Challenger Ltd (CGF) $8.07

We covered CGF in detail in late April targeting the $8 area, exactly where we are now. In June we saw Dai-Chi Life buy an additional 4.8% stake in CGF, taking its voting power to 19.9% raising speculation of a bid by Dai-ichi who have a history of initiating with minority stakes before pursuing full acquisitions.

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23/04/2025 09:31

Challenger Ltd (CGF) $6.88

CGF was a market darling about eight years ago, but as so often happens, when too many people become bullish, the wheels can fall off. In the case of CGF, this was dramatic, with the stock falling 80% in less than three years.

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18/02/2025 17:07

Challenger Group Financial (CGF) $5.58

CGF –8.97%: We’ve been consistently cautious on CGF given the complexity in their book that underpins the annuity liabilities, and today was another reminder of why this stance remains on point, with lower margins hurting todays result;  

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03/05/2024 09:33

Challenger Ltd (CGF) $6.38

Previous market darling CGF is unchanged so far in 2024, similar to the last few years. CGF recently reported its 3Q24 sales and flows. Life net flows were below forecasts, whilst Funds Under Management (FUM) was surprisingly strong, with flows in both divisions relying less on the low-margin institutional segment.

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17/11/2023 09:20

Challenger Ltd (CGF) $5.79

CGF slipped -2% on Thursday, posting fresh 52-week lows in the process, although the stocks traded sideways since mid-2021. While we would expect CGF to enjoy a favourable annuity sales backdrop based on the ability to offer customers higher returns (as yields have risen on the fixed income investments that underpin their annuity book).

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15/02/2023 09:19

Challenger Ltd (CGF) $7.58

Financial services provider CGF rallied +4.41% yesterday after the company reaffirmed guidance, in our opinion a sign of how little confidence the market had in the company meeting their numbers. This once-market darling is still trading 47% below its 2018 high, not a great result considering the ASX200 has rallied more than +20% over the same time, and that’s before we even consider dividends.

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14/02/2023 16:56

Challenger (CGF) $7.58

CGF +4.41%: the investment manager posted a reasonable set of 1H numbers, headlined by a small beat at the profit line as higher interest rates create a tailwind for their core annuity offering. Net Profit Before Tax (NPBT) was a small beat at $250m.

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04/11/2022 09:23

Challenger Ltd (CGF) $7.04

CGF is finally looking more interesting after a very tough few years, back in 2017 it was one of the market’s “go-to” stocks but things can change as we so often see. Annuities are set to become more attractive given the increase in rates so inflows should theoretically increase especially as economic uncertainty weighs on investors.

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16/08/2022 16:58

Challenger Limited (CGF) $6.40

CGF –10.11%: Hit today despite their Net Profit Before Tax (NPBT) coming broadly in line with expectations, however, the composition of the result was soft which is very typical of CGF. Weaker earnings in business units were offset by lower corporate costs however, the main negative surprise came from bank losses as higher than expected regulatory and...

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