AllianzGI announces succession plan for US Income & Growth Strategies team

Summary

Allianz Global Investors, one of the world’s leading active asset managers, announced today its succession plan for its market-leading US Income & Growth Strategies franchise effective 1 March 2022.

  • Justin Kass to become CIO & Co-head; Brit Stickney to become Co-head of Income & Growth from Q1 2022
  • Douglas Forsyth to pursue philanthropic commitments and local private enterprise activities following 27 years’ service to AllianzGI and its clients

9 July 2021. Allianz Global Investors, one of the world’s leading active asset managers, announced today its succession plan for its market-leading US Income & Growth Strategies franchise effective 1 March 2022.

When Douglas (Doug) Forsyth, CIO of the US Income & Growth Strategies team, moves on to the next phase of his career and life from next year, long-time partners and co-PMs Justin Kass and William (Brit) Stickney will take on responsibility for the franchise which exceeds USD 50 bn.

Both Justin, who will become CIO of Income & Growth Strategies, and Brit, who will co-head the team with Justin, have worked alongside Doug for over 20 years at AllianzGI. They have been integral to the development of client solutions and investment products, which the team has sustained over the past two decades.

Commenting on the appointment, Deborah Zurkow said: “Income & Growth is one of AllianzGI’s flagship strategies which is bought by clients the world over. The strength, cohesion, and entrepreneurial spirit of the team – which manages a broad range of multi-asset solutions – are among the secrets to that success. Naturally, we have taken great care to ensure that succession arrangements are well-developed, and we are communicating them well in advance. True to character, Doug has put the future success of the team and the ongoing interests of clients at the forefront of his thinking in this timing. When he does move on, he will do so with our very best wishes and confident of a great legacy upon which the team is building.”

AllianzGI’s flagship US Income and Growth strategy is designed to provide a stable income stream with the opportunity to participate in market appreciation through the use of three distinctive US asset classes: Convertibles, High Yield securities, and Equities with covered call options. Through a disciplined, fundamental bottom-up research process, the team uncovers the most attractive companies and then identifies the optimal total return investment opportunity within the capital structure.

The investment team has extensive industry experience, with a strong culture of purposeful collaboration and innovation. In addition to Income & Growth, the range of products developed and managed by the team includes Convertibles, High Yield, and Short Duration amongst several other open-ended and closed-end funds, as well as CLOs. The team has one of the strongest retention rates and longest average tenures in the industry.

Following his departure in 2022, Doug intends to devote more energy to his philanthropic commitments and to local private enterprises in his native southern California.

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Allianz Global Investors signs agreement to acquire PT RHB Asset Management Indonesia

Summary

AllianzGI, one of the world’s leading active asset managers, announced today that Allianz Global Investors Asia Pacific Limited, a wholly owned subsidiary within AllianzGI, has entered into a conditional share purchase agreement with RHB Banking Group for the proposed acquisition by AllianzGI (together with PT Asuransi Allianz Life Indonesia) of the entire equity interest in RHBAMI, an Indonesia-based asset manager, from PT RHB Sekuritas Indonesia which is part of RHB Banking Group, and the other shareholder of RHBAMI.

  • The proposed acquisition is an important addition to Allianz Global Investors’ (“AllianzGI”) established presence in Asia, reinforcing its commitment to Southeast Asia and Indonesia’s fast-growing financial market
  • PT RHB Asset Management Indonesia (“RHBAMI”) will gain access to AllianzGI’s broad range of investment expertise and solutions, bringing in new perspectives to the Indonesia asset management market
  • The proposed transaction is expected to be completed in 4Q 2021 and is subject to various conditions precedent, including the approval by the Indonesian Financial Services Authority (Otoritas Jasa Keuangan or “OJK”)
  • Investing involves risk. The value of an investment and the income from it will fluctuate and investors may not get back the principal invested. Past performance is not indicative of future performance. This is a marketing communication. It is for informational purposes only. This document does not constitute investment advice or a recommendation to buy, sell or hold any security and shall not be deemed an offer to sell or a solicitation of an offer to buy any security

    The views and opinions expressed herein, which are subject to change without notice, are those of the issuer or its affiliated companies at the time of publication. Certain data used are derived from various sources believed to be reliable, but the accuracy or completeness of the data is not guaranteed and no liability is assumed for any direct or consequential losses arising from their use. The duplication, publication, extraction or transmission of the contents, irrespective of the form, is not permitted.

    This material has not been reviewed by any regulatory authorities. In mainland China, it is used only as supporting material to the offshore investment products offered by commercial banks under the Qualified Domestic Institutional Investors scheme pursuant to applicable rules and regulations. This document does not constitute a public offer by virtue of Act Number 26.831 of the Argentine Republic and General Resolution No. 622/2013 of the NSC. This communication's sole purpose is to inform and does not under any circumstance constitute promotion or publicity of Allianz Global Investors products and/or services in Colombia or to Colombian residents pursuant to part 4 of Decree 2555 of 2010. This communication does not in any way aim to directly or indirectly initiate the purchase of a product or the provision of a service offered by Allianz Global Investors. Via reception of his document, each resident in Colombia acknowledges and accepts to have contacted Allianz Global Investors via their own initiative and that the communication under no circumstances does not arise from any promotional or marketing activities carried out by Allianz Global Investors. Colombian residents accept that accessing any type of social network page of Allianz Global Investors is done under their own responsibility and initiative and are aware that they may access specific information on the products and services of Allianz Global Investors. This communication is strictly private and confidential and may not be reproduced. This communication does not constitute a public offer of securities in Colombia pursuant to the public offer regulation set forth in Decree 2555 of 2010. This communication and the information provided herein should not be considered a solicitation or an offer by Allianz Global Investors or its affiliates to provide any financial products in Brazil, Panama, Peru, and Uruguay. In Australia, this material is presented by Allianz Global Investors Asia Pacific Limited (“AllianzGI AP”) and is intended for the use of investment consultants and other institutional/professional investors only, and is not directed to the public or individual retail investors. AllianzGI AP is not licensed to provide financial services to retail clients in Australia. AllianzGI AP (Australian Registered Body Number 160 464 200) is exempt from the requirement to hold an Australian Foreign Financial Service License under the Corporations Act 2001 (Cth) pursuant to ASIC Class Order (CO 03/1103) with respect to the provision of financial services to wholesale clients only. AllianzGI AP is licensed and regulated by Hong Kong Securities and Futures Commission under Hong Kong laws, which differ from Australian laws.

    This document is being distributed by the following Allianz Global Investors companies: Allianz Global Investors U.S. LLC, an investment adviser registered with the U.S. Securities and Exchange Commission; Allianz Global Investors Distributors LLC, distributor registered with FINRA, is affiliated with Allianz Global Investors U.S. LLC; Allianz Global Investors GmbH, an investment company in Germany, authorized by the German Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin); Allianz Global Investors (Schweiz) AG; Allianz Global Investors Asia Pacific Ltd., licensed by the Hong Kong Securities and Futures Commission; Allianz Global Investors Singapore Ltd., regulated by the Monetary Authority of Singapore [Company Registration No. 199907169Z]; Allianz Global Investors Japan Co., Ltd., registered in Japan as a Financial Instruments Business Operator [Registered No. The Director of Kanto Local Finance Bureau (Financial Instruments Business Operator), No. 424, Member of Japan Investment Advisers Association and Investment Trust Association, Japan];and Allianz Global Investors Taiwan Ltd., licensed by Financial Supervisory Commission in Taiwan.