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European credit chief set to leave AllianzGI

European credit chief set to leave AllianzGI

The CIO of credit Europe is set to leave Allianz Global Investors after 12 years working at the asset management firm, the company has confirmed.

Alexandre Caminade, who managed the Allianz Euro High Yield Bond fund, has decided to leave the firm hat the end of August to explore opportunities outside the firm, a spokesperson for AllianzGI told Citywire Selector.

Vincent Marioni will become CIO credit Europe on 1 September 2017 and take over the Euro HY fund. He currently manages the Allianz Euro High Yield Defensive and Allianz Corporate Bond Europa High Yield funds.

Marioni joined AllianzGI in September 2014, having previously worked as a high yield credit portfolio manager at Natixis Asset Management from December 2009 onwards.

Commenting on the appointment, the spokesperson for AllianzGI said: ‘Vincent has been a senior portfolio manager within AllianzGI for over three years now and joined the firm as Alexandre’s deputy managing high yield. 

'Vincent has nearly 20 years of industry experience and a strong track record.  There will be no changes to the credit investment philosophy and process.'

Over three years to the end of May 2017, the Allianz Euro High Yield Bond fund returned 12.35% in euro terms. This compares to a rise of 14.72% by its Citywire-assigned benchmark, the BofA Merrill Lynch Euro High Yield TR, over the same time frame.

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