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”)

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.

RHBAMI is an established asset management company in Indonesia with Assets under Management (“AUM”) of over USD 480 million (as at 31 December 2020). It offers asset management products and services such as mutual fund units in various asset classes catering for retail investors, high net worth individuals, and corporate and institutional investors.

With strong success in Asian markets including Singapore, Hong Kong and Taiwan, AllianzGI aims to create an on-the-ground, market-leading setup in Indonesia through the proposed acquisition to grow the firm’s footprint in Southeast Asia. The firm will also look to build on the strong presence of its parent company, Allianz SE, which has already established a robust insurance business in Indonesia.

Tobias Pross, Chief Executive Officer at AllianzGI, says: “Asia is a growth market for AllianzGI. While we have a long history of success in the region, we continue to look for opportunities to further expand our presence and grow our client base. We see Southeast Asia as the next growth engine besides China; backed by the solid presence of Allianz SE in Indonesia, the proposed acquisition is a confident stride to accelerate our entry into this fast-growing market.”

Desmond Ng, Head of Asia Pacific at AllianzGI, says: “Indonesia is the largest economy in Southeast Asia with a young population and rapid economic growth. We are ready to tap into this dynamic market for its long-term growth potential and to strengthen our franchise in Southeast Asia which has long been a strategic focus for AllianzGI. We look forward to bringing more value to the investors in Indonesia and Southeast Asia as a whole.”

Following the proposed acquisition, expected to be completed in 4Q 2021 subject to satisfaction of the various conditions precedent, including approval by the OJK, AllianzGI and RHBAMI will be able to leverage each other’s strengths and capabilities in investment management and solutions. While RHBAMI’s current and prospective clients will benefit from AllianzGI’s broad range of investment expertise and solutions, AllianzGI will be bringing in new perspectives to the Indonesia asset management market through RHBAMI’s on-the-ground team.


For further information please contact:

Allianz Global Investors Angie Tang, +852 2238 8588, angie.tang@allianzgi.com Kimsten Law, +852 2238 8847, kimsten.law@allianzgi.com


About Allianz Global Investors

Allianz Global Investors is a leading active asset manager with over 690 investment professionals in 23 offices worldwide and managing EUR 598 billion in assets for individuals, families and institutions.

Investing is a journey, and we seek to create value with our clients every step of the way. We invest for the long term, employing our global investment and risk capabilities and sustainable investing expertise to create innovative solutions that anticipate future needs. We believe in solving not selling – our goal is to elevate the investment experience for clients, wherever they are based and whatever their investment objectives.

Active is: Allianz Global Investors

Data as at 31 March 2021

Unless otherwise stated, all data, views and opinion are as of 26 July 2021.

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 communication 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 the Hong Kong Securities and Futures Commission. Issuer of this material: Allianz Global Investors Asia Pacific Limited.

1734036

AllianzGI appoints Michael Heldmann as CIO Systematic Equity

Summary

Allianz Global Investors is pleased to announce that Michael Heldmann will become Chief Investment Officer (CIO) Systematic Equity in August, taking over from Co-CIOs Benedikt Henne and Klaus Teloeken who will retire over the course of 2022.

  • Takes over from Benedikt Henne and Klaus Teloeken who will retire in 2022

Allianz Global Investors

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