Allianz Global Investors To Close Structured Alpha Liquid Alt to New Investors

Oct 21 2016 | 8:19pm ET

Allianz Global Investors has closed one of their most popular liquid alternatives strategy to new investors as the fund nears its capacity limit of $7 billion. 

The fund, named the Allianz Structured Alpha Strategy, will be closed to new investors on 8 November 2016, according to an article in Citywire. It is managed by former Innovative Options Management co-CIO Greg Tournant. It was launched in August 2010 and aims for annual returns of 5%, following a three-pronged objective of profiting during normal market conditions, protecting against a market crash, and navigating as wide a range of equity-market outcomes as possible. 

The fund’s soft close reflects growing interest for liquid strategies that display the risk characteristics of bonds but improve yield, noted AllianzGI’s head of alternatives, Deborah Zurkow, in the article. 

The move comes close on the heels of the launch of AllianzGI’s Structured Return Fund, an absolute return strategy designed to pursue much the same objective as the Structured Alpha fund, and also co-managed by Tournant.  

Alternatives are one of the four pillars in AllianzGI’s global investment platform, alongside equities, fixed income and multi-asset strategies. The company, part of German insurance giant Allianz, offers a broad range of alternative products, including equity long/short, merger arbitrage, derivatives, volatility, global macro, absolute return, private debt, and infrastructure-related equity and credit strategies. The firm manages approximately €14 billion in liquid and illiquid alternatives.

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