Allianz Global Investors (AllianzGI) is to launch its Allianz Structured Alpha US Equity 250 fund on the UK market as an “attractive alternative” to exchange-traded funds (ETFs).
The fund is invested broadly in the US equity market based on the S&P 500 Index, but also targets an annual excess return of 2.5%. It combines passive investment in the index with an actively managed options overlay.
It is managed by a team headed by Greg Tournant, chief investment officer, US structured products.
Adam Gent, head of retail and wholesale for Northern Europe at AllianzGI, said the fund aimed to deliver returns that are uncorrelated with traditional market returns.
“Since the strategy was launched in the US, it has outperformed its benchmark in all rolling five-year periods. This makes the fund, which can be traded on every exchange trading day, an attractive alternative to ETFs,” Gent added.
AllianzGI has around €500 billion in assets under management.
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