Australian manager challenges the market
A new look, expansive Challenger International is being launched in the market today (Friday).
Australian-based Challenger, which is best known for its Endowment Warrants, bought Coronet Asset Management last year and is now looking to further expand its range of investment options.
New Zealand executive director John Rowley says Challenger plans to roll out a UK-based Open-Ended Investment Company (OIEC) in August, plus it was in the process of establishing a life office in New Zealand.
The OEIC is a Global Asset Management (GAM) Australasian equity fund managed which Challenger provides advice to. (Until earlier this year Challenger provided advice to the New Zealand Investment Trust which is a UK investment trust that is dual listed in London and New Zealand).
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