Allianz set to launch two absolute return funds in Q1

Allianz Global Investors is set to enter the UK absolute return space in the first quarter of this year with UK equity and multi-asset products.

The group, which is the third largest global active asset manager, intends to leverage experience gained in running institutional 130/30 and multi-asset products and plans to have the vehicles ready for a March launch. Nick Smith, managing director and head of fund distribution, expects the funds to be UK domiciled. "Allianz believes that as a business we should be able to offer absolute return funds to the UK," he says. "The funds are likely to be quiet different from each other, with the multi-asset aiming for a consistent return over time - while the UK fund will target similar ...