Challenger (ASX:CGF) share price is up 35% in 6 months. Can it continue its form in 2021?

The Challenger Ltd (ASX: CGF) share price has had a solid run in the last 6 months, rising by 35%. This comes after the investment manager lost almost a third of its value in March, when the Challenger share price fell by as much as 65%.

Let’s take a look at the company’s prospects and the challenges it may face this year.

First, what’s been driving the Challenger share price?

Challenger has two main businesses – the annuities business through Challenger Life, and funds management business consisting of Fidante Partners and Challenger Investment Partners.

Challenger Life’s sales amount to roughly 90% of yearly annuity sales in Australia, while its investment fund products are represented on platforms used by more than 70%…