Allianz faces possible 'worst case' €6.8bn hit over funds in US probe

clock • 1 min read
Allianz faces possible 'worst case' €6.8bn hit over funds in US probe

German-headquartered Allianz SE could face a loss of around €3.5bn with the potential for a worst-case hit of €6.8bn, in light of ongoing investigation by the US Department of Justice (DOJ) into the Structured Alpha Funds of Allianz Global Investors, according to an analyst note by Berenberg.  The DOJ probe follows a 2020 investigation by the US Securities and Exchange Commission (SEC) into the Structured Alpha Funds over claims of not safeguarding against pandemic-induced financial volati...

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