Fund Management
Allianz Adds Sterling Share Classes To Two Major Offshore Funds

Allianz Global Investors has created sterling hedge share classes
for two of its offshore vehicles, the Allianz Income
and Growth fund and the Allianz Flexi Asia Bond fund.
Managed by Doug Forsyth, the £241 million ($359 million)
Allianz Income
and Growth fund invests in a mix of global equities, bonds and
convertible
bonds and the new share class will distribute a monthly 6 per
cent pay-out.
Launched in November 2011, the fund has outperformed its
benchmark, the Lipper Flexible Portfolio Funds Average, returning
18.7 per cent
as of June 2013.
The £377 million ($562 million) Allianz Flexi Asia Bond
fund, managed by Cheng Chee Seng, was launched in April 2012 and
performed
strongly until the recent sell-off in emerging market bonds. The
fund, focusing
on Asian bonds and currencies, was especially hit by the Chinese
sell-off.
Allianz Global Investors has some €316
billion ($406 billion) in assets under management for
individuals, families and institutions
worldwide.