View more on these topics

Allianz Global Investors acquires £24bn bond fund manager

2094941_Business-Handshake-Finance-Deal-700

Allianz Global Investors has acquired bond fund manager Rogge Global Partners for an undisclosed sum.

Following the deal, which is subject to regulatory approval, RGP, which has £24.1bn of funds under management, will maintain its investment team and process.

Allianz will acquire 100 per cent of the issued share capital in RGP from Old Mutual and RGP management.

In December, it was reported Aberdeen Asset Management, Macquarie and ScotiaBank were also among the bidders for RGP.

AllianzGI global CIO and CEO-elect Andreas Utermann says: “We are delighted that RGP have chosen to partner with AllianzGI as the springboard for the next stage of their development. The two businesses are a natural fit – in terms of both product mix and culture – and we really look forward to working together closely for our clients’ mutual interests.

“The complementary nature of the fit extends also to geographic footprint, which will substantially enhance Allianz GI’s footprint in the UK as well as making RGP’s strategies available to more clients globally.”

Allianz Global Investors has recently created an Asian fixed Income team led by David Tan, as well as developed its emerging market debt team led by Greg Saichin.

More recently it hired Mike Riddell to lead the development of its UK fixed income capability.

Allianz GI’s fixed income business grew from €109bn to €167bn in the last four years. Total assets under management at the firm are €427bn.

Recommended

Financial advice-planning-advice-cashflow-analysis
9

Investments misselling claims management firm enters administration

A claims management company targeting the misselling of financial products has gone into administration, the FT reports. Rebus Group completed a crowdfunding campaign last year on Crowdcube to fund its expansion, raising a total of £816,970. However, administrators ReSolve have now been appointed to oversee the business. As a result, more than 100 individuals are […]

Lloyds-Banking-Group-Building-2013-700.jpg

Lloyds to axe 1,755 jobs in cost-cutting drive

Lloyds Banking Group is making 1,755 job cuts and closing 29 branches in its latest round of cost-cutting. The job losses will hit Lloyds’ commercial banking, consumer finance, legal, group operations and retail arms, according to trade union Accord. The office closures will take place in June. Lloyds is also adding 170 roles in its retail, […]

Creating opportunity out of change

By Denise Wond, marketing manager The buy-to-let market has recently been the subject of a raft of tax changes, all of which make it a less profitable and less appealing proposition for investors. In response, we’ve seen a dip in demand for BTL mortgages and that’s bad news for many advisers who will now be looking […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment