TAL takes 15.1% of Challenger
Major life insurer, TAL has confirmed that it has acquired a 15.1% stake in Challenger Limited.
In a move being interpreted by some analysts as part of a larger move into the annuities space, TAL’s confirmation said it recognised the “evolving needs of Australia’s ageing population and a shareholding in Challenger adds to TAL’s long-term commitment to the growing retirement sector”.
TAL chief executive, Fiona Macgregor said, “There is an important community need to address with five million Australians currently in or preparing for retirement. Our minority investment in Challenger is an extension of our commitment to supporting Australians’ financial needs during retirement.”
Hope this includes industry funds they are just product providers and some of the biggest. ASICs own reports 639 and…
Hope this includes industry funds they are just product providers and some of the biggest. ASICs own reports 639 and…
Good idea, if its low cost and does same thing as other platforms without added headaches or product driven fluff…
Someone has to fund the Big Bloated Bureaucracy.
Should ban industry fund advertising and sponsorships whilst they're at it. Also a form of lead generation in my view.