Allianz expands offshore offering

Allianz Global Investors has expanded its Sicav range with the addition of a euro high yield fund and is considering the launch to the UK market of a German equities product.

The Allianz Euro High Yield Defensive fund will be managed by its Paris-based fixed income team and has already attracted €50m in inflows.

Head of retail sales for Europe ex-Germany Nick Smith says “Euro high yield debt is an area where we have been seeing increasing client demand, especially as investors seek an alternative to sovereigns.

“We expect to see continued interest in a defensive fund in this space as investors look to limit their downside risk.”

Smith says the asset manager is also weighing up the launch of a German equities fund to mirror its Allianz Concentra fund managed by Matthias Born.

He explains: “In German equities we have a long standing track record of benchmark beating performance through the Allianz Concentra fund.

“We are therefore looking to make this expertise available in other jurisdictions.”

Smith adds: “Germany remains a tower of strength in Europe with an unchallenged triple-A rating from S&P and a real economy that is performing strongly.

“We believe that there will be strong demand from investors for this strategy.”