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Sport Allianz Management Board Hunt expects M & A wave in asset management

09:25  17 june  2021
09:25  17 june  2021 Source:   t3n.de

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(Bloomberg) - the asset management industry is facing a wave of fusions and acquisitions in which Allianz SE wants to participate. That said Jacqueline Hunt, which is responsible for the business area on the board, in a Bloomberg interview. According to their words, the daughters Pimco and Allianzgi could soon manage two trillion euros for foreign customers.

"We have experienced 2020 an acceleration of mergers and acquisitions, and it looks like it will give another acceleration this year," said Hunt. The trend was partly triggered by the victory train of passive managers, which strengthen the pressure in the industry with low charges. "I think we will generally see more mergers and acquisitions. And we would participate in it. "According to the Hunt, the alliance looks around for potential goals, with the area of ​​Asia-Pacific of particular interest. Acquisitions would have to supplement the existing asset management business, for example in terms of geographical reach. She warned that the reviews are generally high, there "there is pretty much money that is hunting after a few occasions".

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PIMCO stabilized

Over the past 18 months alone, Amundi SA has incorporated Sabadell Asset Management and the investmentary Lyxor of the Societe Generale SA. The Bank of Montreal sold its international asset management. Allianz, according to Bloomberg reports, recently had to look at the asset management of the NN Group NV after the Munich Group had examined an

merger

with the DWS Group of Deutsche Bank AG about two years ago. Hunt refused a comment. She stressed that it is not about purchases around every pricing. Pimco and Allianzgi are sufficiently large as independent companies. When Hunt sent her post in July 2016, Pimco still suffered from high drains after the surprising departure of co-founder Bill Gross. The bond line has managed to come back to the trail of success.

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Five years ago, the Alliance managed around 1.3 trillion euros for third party customers at the end of Hunt. At the end of the first quarter of this year, the value was 1.8 trillion euros. Strong net inflows contributed to a new record high in the three months until the end of March.

Rekord-Hoch © Bloomberg Record High "We had to stabilize PIMCO in the first years. But just in the last three years, it was much more about growing profitably and focusing on efficiency, "Hunt said. Around 92% of the PIMCO assets for foreign customers have beaten benchmarks over the past five years.

Nonetheless, the Alliance continues to work on the structures of its two asset managers. At PIMCO in Munich, a total of 54 jobs lasted, including 19 posts in portfolio management. Some tasks were consolidated in London. Even with Allianzgi jobs in Germany have been deleted.

Hunt expects the greatest growth in Southeast Asia in the long run due to the growing demographics, better education and increasing savings rates. "But we can not ignore the US and European markets short and in the medium term as quite big markets," she said. In terms of investment strategies, it sees the greatest potential for alternative and ESG offers.

In the course of COVID 19 vaccinations, Hunt assumes that the importance of the HomeOffice will decrease in the asset managers of the Alliance. "I would prefer to find something that is a bit of office-based and people come in regularly," she said. "While it is possible in many positions to work from home, the question arises how much you lose culture and focus."

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