Challenger Q3 Life Sales Up 19%; Tightens FY26 Normalised Basic EPS Guidance

Challenger reported third-quarter total Life sales of A$1.7 billion, up 19% year over year, but Funds Management FUM fell 10% to A$104.5 billion. The decline was driven by A$8.0 billion of net outflows and A$3.4 billion of negative investment market impacts. The update is mixed, with strong life sales offset by asset under management erosion.

Analysis

Challenger reported third-quarter total Life sales of A$1.7 billion, up 19% year over year, but Funds Management FUM fell 10% to A$104.5 billion. The decline was driven by A$8.0 billion of net outflows and A$3.4 billion of negative investment market impacts. The update is mixed, with strong life sales offset by asset under management erosion.