Challenger Financial Services Group Ltd
(ASX:CGF) says its assets under administration and advice totalled $112.2 billion for the September quarter, a rise of 50 per cent.
Assets and mortgages under management totalled $36.5 billion, an increase of 3.4 per cent for the quarter, thanks to a 12 per cent rise in funds under management during the quarter to $17.9 billion.
The company says net flows of more than $820 million were underpinned by continued strong performance from Boutique Partnership funds.
Challenger says that with investment markets starting to recover investor confidence is improving.
This it says is best reflected in the total number of funds under management for Boutique Partnerships now almost $3 billion, an increase of over 100 per cent since June 2009.
Challenger Financial Services Group has fallen into the red in the last two years after reaching a high of $255 million in 2007.
