Future looks bright for Challenger (ASX:CGF)

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We have a strongly growing pool of superannuation assets in Australia and Tim Kelley, Portfolio Manger of The Montgomery Fund highlights that overtime we will see an increasing proportion of that pool moving from an accumulation to a drawdown phase and in that phase the annuity products that Challenger (ASX:CGF) provides we think have particular appeal. In Australia those types of products have a relatively low penetration into that market. With this dynamic Kelley sees compounding growth is possible for Challenger over 5 out to 15 years. Challenger is currently “trading at a price that may not fully reflect long term potential…a business we think we may be able to own for many years to come and we expect to see that business become a lot better over that time”. In the video below Kelley also looks further at the medium to long-term opportunities in front of Challenger and review the competitive landscape in Challenger’s space.

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