Administration July 9, 2001

Allianz Still on the Prowl

September 19, 2000 (PLANSPONSOR.com) - The money manager buying binge, or at least the rumors, continue unabated this week. Germany's Allianz AG is reportedly in preliminary talks with US asset manager Franklin Resources less than a week after talks were rumored between Allianz and US fund manager Nicholas Applegate.
Reported by

Franklin runs the Templeton funds group, and has over $236 billion under management as of August 31, roughly 2/3 in equities.

According to Reuters, Allianz is also in exploratory talks with US fund companies Waddell & Reed and Gabelli Asset Management, citing a German banking source.

Waddell & Reed has about $40 billion under management, and Gabelli has about $23 billion.  Last week’s rumor, Nicholas Applegate, manages $45 billion.

Earlier this year Allianz bought US bond manager PIMCO, with about $200 billion under management, for $3.3 billion – about 1.9% of assets under management. 

Equity acquisitions would likely draw a larger premium.

– Nevin Adams           editors@plansponsor.com

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