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Allianz GI unveils major changes for Allianz PIMCO bond fund range

Allianz GI unveils major changes for Allianz PIMCO bond fund range

Allianz Global Investors is to undertake a major overhaul of a number of fixed income funds domiciled in Germany and Luxembourg that have been sub-advised by PIMCO, the Frankfurt-based company has announced.

The move is part of the strategy announced by Allianz in 2011 to position both PIMCO and Allianz Global Investors as two distinct full-service asset managers in the market place.

‘This is the last step in the implementation of our two-pillar strategy,’ a spokesperson at Allianz GI in Frankfurt told Citywire Global, adding that all previously Allianz PIMCO-branded funds will be managed by Allianz managers by the end of the year. PIMCO belongs to Allianz since 2000.

The list below includes funds with collective assets of around €4.6 billion which will no longer be overseen by PIMCO managers.

Two of the most prominent PIMCO fund managers to be replaced include Andrew Balls and Munich-based Andrew Bosomworth. According to Citywire data, Balls manages at least five ‘Allianz PIMCO’ funds.

The spokesperson confirmed that, despite the change in lead manager, there will be no change in the strategies of the funds.

Changes to a number of funds including the following have been announced:

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