Allianz Global Investors (AllianzGI) has launched a new alternative investments pillar in its global investment platform, appointing Spencer Rhodes in the new role of alternativeinvestments global business manager.
AllianzGI's existing alternative investment strategies will be brought into one group to provide more dedicated organisational support and visibility, mirroring the firm's current approach to equities, fixed income and multi-asset strategies.
Rhodes has worked on AllianzGI's alternatives product offering through this year, having joined the firm in July 2013 from the hedge fund firm Tradewinds Investment Management, where he served as head of business development and chief operating officer.
He says that AllianzGI's mix of alternative strategies has strong potential, comprising long-running, peer-group leaders alongside newer, highly differentiated strategies.
Assets under management in AllianzGI's alternative strategies have more than doubled in the last year, from €2.1 billion in October 2013 to €5.4 billion in October 2014.
Andreas Utermann, global chief investment officer and co-head of Allianz Global Investors, says that the firm has been broadening its alternatives capability in response to client demand.
"In an environment of financial repression, characterised by much lower future expected returns from the beta element of all asset classes, these strategies can help investors capture alpha," he adds.
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