Can't see any prospects from the business fundamental.
The prospects are nicely summarised by the following sentence alone:
“But, that doesn’t mean it can’t continue to provide attractive dividends and perhaps market-beating returns if people are attracted (or required) to have a guaranteed source of earnings in retirement.”
Because annuity-type products currently capture less than 5% of the annual transfer from the accumulation to the retirement phase of Australia’s superannuation system, the room for growth in this business is very substantial, pretty much regardless of where interest rates are.
Add to that the fact that CGF is currently trading at a FY20 PE of 12.3x (vis-a-vis 16.5x for the ASX200) and the fundamental case for Challenger is pretty much made for you.
Cheers
News: CGF Challenger Ltd To Commence U.S. Dollar Annuity Reinsurance, page-57
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Last
$7.34 |
Change
0.460(6.69%) |
Mkt cap ! $5.069B | |||
| Open | High | Low | Value | Volume |
| $7.34 | $7.57 | $7.11 | $17.46M | 2.377M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4930 | $8.07 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.61 | 4619 | 2 |
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| Last trade - 15.59pm 13/08/2024 (20 minute delay) ? |
| CGF (ASX) Chart |