Allianz’s asset management unit, Allianz Asset Management has expanded its initial investment from September 2016 and became the principal investor and largest minority shareholder of UK digital money manager Moneyfarm amid rising demand from digitally-native savers and investors.
“Allianz and Moneyfarm have a common goal to broaden the availability of digital wealth management to savers and investors in a number of markets. We see increasing client demand for smart yet easy-to-handle digital solutions, particularly when it comes to a holistic management of their investments,” said Jackie Hunt, member of the board of management of Allianz SE, responsible for Asset Management and US Life Insurance. “By intensifying our partnership, we can offer personalised investment solutions through this sophisticated digital channel for a growing client base.”
Moneyfarm will complement capabilities and selected products of Allianz’s asset management and insurance entities with its existing product offering.
“By partnering with Moneyfarm, with whom Allianz Global Investors has been working since 2017, we see the opportunity to combine their digital wealth management knowhow with our expertise in active investing and risk-optimization to create something compelling for clients,” said Andreas Utermann, CEO of Allianz Global Investors. “We believe that this will increase the availability of active investment knowhow in a cost-effective and easy to access structure.”
Following the additional investment, Allianz will hold two seats on the board of Moneyfarm. The transaction remains subject to regulatory approval.