Challenger Financial Services Group Ltd
(ASX:CGF) has revealed its assets under management totalled $22.1 billion at the end of March.
The result represents an increase of 14.9% over 12 months.
The company’s funds under management at March 31, 2010, were down 3.5% on the previous quarter, reflecting the privatisation of the Challenger Kenedix Japan Trust in February.
Life’s assets under management were $6.6 billion, up 12% for the 12 months to March 31 and down 1% on the prior quarter.
Quarterly sales of annuities and associated products totalled $241 million, including an additional $43 million of Guaranteed Index Return.
Sales of its core Guaranteed Income Plan strengthened towards the end of the quarter, with March sales almost double those recorded in January.
Net institutional flows for the quarter of $256 million included continued strong flows from Challenger’s Boutique Partnership funds of almost $600 million.
Challenger Financial Services Group posted a loss of $90.7 million for fiscal 2009.
