Launches ActiveInvest, its first fund in Spain, under the auspices of Allianz Global Investors, after receiving authorization from the CNMV.
Allianz received the go-ahead from the CNMV yesterday to start selling mutual funds through the securities company Allianz Investment Solutions, and it does so with the initial commercial strength of 1,500 financial advisors.
The German insurer thus closes the mandatory hiatus it opened in this sector from which it had to withdraw after breaking its bancassurance agreement with Popular -acquired by Santander in the summer of 2017-, which included the joint marketing of investment funds in the bank’s branches.
Allianz Spain considers the asset management business to be strategic. The group puts one of its main focuses on this activity in the world, where it works with Allianz Global Investors and Pimco. The corporation has 1.7 trillion euros in assets under management.
To embark on this new venture, Allianz has launched an ambitious training plan for its brokers, which will be implemented in the coming months.
In recent days, the company has added 500 new advisors who have just received Mifid certification in the 2021 call. As a result, the company now has 1,500 financial intermediaries, including agents and brokers, who can market investment funds and similar products.
This sales force represents 16% of the 9,000 mediators that Allianz has in Spain (4,000 agents and 5,000 brokers).
The group began the process of certifying these professionals last year and next September will start training courses for the group that will be examined in June 2022. The number of certified advisors is expected to increase progressively.
Allianz’s entry into the marketing of asset management is being carried out through the securities agency Allianz Investment Solutions, which will focus its activity on financial advice, estate planning and other financial services. With this, the group seeks to become a relevant player in the management of Spanish people’s savings.
“We are part of a leading group in active management funds, the first in Europe and the second in the world, which guarantees our ability to find the ideal investment solution for all types of clients. We want to be the benchmark in asset management for savers and investors, and that means having a plural offer that adapts to the needs of our clients,” says Miguel Colombás, CEO of Allianz Investment Solutions and former head of Asset Management at Allianz Popular Asset Management.
“We are going to start marketing ActiveInvest, a product of fund portfolios from Allianz Global Investors, managed by the team with the highest equity ratio in Morningstar five-star funds in the European market,” says Colombás, who adds that this offer is exclusive to Allianz clients, although “we will be attentive to what the market offers, so that if there is any fund that adds value to our range, we will include it.”
Allianz clients will have an online service of these portfolios, with the possibility of trading and with videos of the managers and daily detail of the investments, says Colombás.
The German insurance company includes this launch in its new Strategic Life and Asset Management Plan, which includes the marketing of unit linked, life savings insurance that invests in mutual funds, and pension plans for individuals.
197 million in the first six months of this year, representing an increase of 38% over the same period last year.
The total accumulated assets in this product amount to 1,000 million euros, according to the company.
Allianz was also excluded from the pension plan business as a result of the break-up of the agreement with Popular.
The entity created its own plan management company and at the end of last year resumed its activity in this business with the launch of three products aimed at individuals.
Allianz expects to soon exceed 100 million euros of assets under management.
At the end of June last year, the group announced the launch in Spain of Allianz Perspektive, a life insurance savings product with guaranteed long-term returns, which is unusual in the current environment of low interest rates.
Allianz Perspektive is aimed at people up to 75 years of age who want to invest with the aim of increasing their future income without facing risks, the insurer points out.