Liquid Alternatives: Churn Amongst Senior Portfolio Managers at AllianzGI Liquid Alt Funds

August 24, 2020 | Liquid Alternatives, News
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Four senior portfolio managers step down at AllianzGI alternative funds.

Portfolio managers at AllianzGI for three funds in the market-neutral long/short category and one fund in the merger arbitrage strategy have been reassigned, according to Citywire Selector.

AllianzGI Long/Short funds

Senior portfolio managers Harald Sporleder, Ralf Walter, and Jeremy Power used to oversee the market neutral long/short Allianz Discovery Europe Strategy (€55m), Allianz Discovery Germany Strategy (€72m) and Allianz Discovery Europe Opportunities (€7m) funds.

AllianzGI no longer lists the aforesaid managers for these funds. Instead, Steffen Weyl will now function as their lead manager.

Merger arbitrage

Similarly, portfolio manager Tim Wooge is no longer listed as the manager for the €216m Allianz Merger Arbitrage Strategy. Matthias Muller will replace him and will function as the lead fund manager. Muller has been a co-lead portfolio manager for the fund since December 2017.

Liquid alts as a core growth pillar

According to Allianz, it remains “fully committed to liquid alternatives as a core growth pillar of our product offering.”

“In recent years, AllianzGI built an attractive liquid alternatives platform with a number of successful strategies. We will continue to grow this platform going forward.”

Allianz on manager changes

An AllianzGI spokesperson said: “These changes are part of a holistic evolution of our investment offering to ensure it continues to best meet our clients’ future needs.”

“This strategy seeks to build on AllianzGI’s core strengths, focusing on simplification and ensuring the firm has a clear, coherent range of active investment strategies and solutions for clients.”

Earlier Allianz announced sweeping changes at its fixed income and equity units.

Allianz facing SEC heat over structured alpha funds

Earlier this month, according to Pension&Investments, AllianzGI received a request for information from the SEC regarding its structured alpha funds.

These funds incurred serious-to-fatal losses in March, and as a result, Allianz is facing lawsuits from pension funds such as the Arkansas teachers fund and public pension funds for Fairfield, Connecticut.

In its $ 15.3 billion lawsuit, the Arkansas Teacher Retirement System has charged that Allianz improperly invested the pension fund’s assets in three enhanced-return strategies.

Related Story:  Insurance Giant Allianz Launches Risk-Managed ETFs

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