Asset Management: Allianz wants other people’s money
Allianz says its move to third-party asset management will prompt it to unwind its large shareholdings in German companies, except in those instances where it holds them for strategic reasons.
“We will increasingly evaluate our investments solely on financial criteria,” says Udo Frank. “I would be very surprised if in say comparing German companies with French ones, the Germans always come out as the most attractive. There will be a much more diversified European portfolio in the future than we have today.
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