The Challenger Guaranteed Income Fund aims to provide investors with a monthly income stream and a return on capital at a specified maturity date. It will invest in Challenger Life annuities with different units available to be purchased with different maturity terms attached.
Investment terms on offer are for three, five and seven years.
"The creation of an annuity investment option required significant product development because unlike most other platform products, annuities are flexible and bespoke policies sold to individuals," Challenger Life chief executive Richard Howes said.
"However, the high demand from financial advisers and their clients warranted the investment and we're very pleased with the end result."
