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Re: [sharechat] CLI- Challenger International Limited

From: "dsproul" <>
Date: Sun, 30 Sep 2001 13:16:36 +1200

Been keeping an eye on CLI.  Appears to have been tarnished with the  "insurance company" image" following recent events, driving the share down . There may also have been some institutions lowering their exposure prior to the end of the September quarter on Friday.
I assume the Packer shareholding is through Cavalane Holdings, which increases its stake in CLI from 12.6% to 19.85% in April and May, 2000.  Someone on the Egoli forum was suggesting that Packer had exited some of this holding, but I don't see any evidence of that in SSH announcements yet.
As you say , CLI holds a substantial share of the Annuities market in Australia , 19%.  They say that their entry into the UK market would only need to capture 2% to match their equivalent Australian market share.  Apparently  it is compulsory in the UK to turn  pension funds into annuities , once a certain age is attained.
There is a line of thought which suggests that if there is a slowdown in world tourism and consumer spending, annuity providers may actually benefit with people putting cash intended for leisure into savings !!
Thanks for your insightful posts on CLI and others !!  Immensely helpful to me as a new resident in NZ and a novice investor.
Discl.  Bought CLI on 28/9 @ $2.37
FN:David Sproul

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