Challenger has announced a new annuities distribution agreement with BT, along with the launch of a new white-labelled Standard Life Investments global bond product.
Challenger unveiled the new distribution deals yesterday as part of its annual results presentation, in which it announced record annuities sales of $2.2 billion.
The financial services firm also announced a statutory net profit after tax of $202 million, assets under management of $64.7 billion and funds management new flows of $3.2 billion.
After securing a distribution deal with AMP in October 2016, Challenger has now announced its annuities will also be listed on BT's new Panorama platform. Both arrangements will be in place in the final quarter of 2017.
Challenger has also agreed to distribute Standard Life Investments' Absolute Return Global Bond Strategies Fund under its own branding.
Speaking to InvestorDaily, Standard Life Investments head of Australasia Simone Bouch said the partnership with Challenger has been "many months in the making".
"We’ve been active in this market now for five years with a growing retail capability. We really see this partnership as the bringing together of two very strong brands in retirement income in each of their home markets," Ms Bouch said.
Edinburgh-headquartered Standard Life Investments has already established retail distribution arrangements with John Hancock in the US and Sumitomo Mitsui Trust Bank in Japan, she said.
"For us, the Australian business has been going well – we see this as the next step in our expansion to expand our capabilities into the retail market [in Australia]," Ms Bouch said.
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