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Certain investment teams and USD 101 bn1 of client assets they manage transferred from AGI US to Voya Investment Management (Voya IM)
Transfer has been achieved with minimal client attrition
Over two thirds of the value of transferred assets will continue to be managed on behalf of AllianzGI clients
Allianz Global Investors (“AllianzGI”) today completed the transfer of certain US investment teams and the assets they manage to Voya IM as part of its previously announced strategic partnership, which includes a global distribution agreement between the two firms as well as Allianz taking up to a 24% stake in Voya IM.
The value of assets transferred to Voya IM is USD 101 bn, of which over two thirds is managed on behalf of AllianzGI clients around the world. The value of assets transferred represents 95% of the previously identified ‘in scope’ assets, indicating minimal client attrition as a result of the transition.
Commenting on the completion, Tobias Pross, CEO of AllianzGI, said: “We are very pleased to have reached today’s closing, with the successful transfer of investment teams and assets in a very compressed timeframe. We are grateful and humbled: to regulators around the world for their support in expediting their reviews; to our colleagues – both at AllianzGI and Voya IM – for their commitment to ensuring a seamless transfer for clients; and of course, to our clients for their understanding and trust, and for providing the support we have asked of many of them. We look forward to making the most of the opportunities presented by our partnership with Voya IM.”
1Based on IBOR (investment book of record) data as of July 21, 2022.
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