challenger ltd shares rose after the company indicated that its fullyear profit would sit at the upper end of its previously issued forecast shares in the australian annuities provider were 85 higher at 741 australian dollars in early afternoon trade on thursday hitting a twoyear high and making it the biggest intraday gainer on australias spasx 200 as part of its update for the fiscal third quarter challenger on thursday said it expects fullyear net profit before tax on a normalized basis to be at the upper end of its previously forecast range of a430 million to a480 million us3204 millionus3576 million challenger remains ontrack to achieve full year profit guidance and now expects to be towards the upper end of the range chief executive nick hamilton said in a regulatory filing still challenger reported that its funds management funds under management was a100 billion down 8 for the quarter due to the derecognition of whitehelm capital worth a52 billion life sales for the period were a27 billion up 10