A new strategic partnership will see Virtus Investment Partners assuming responsibility for Allianz Global Investors’ U.S. open- and closed-end funds.
The deal totals $23 billion in funds and retail separate accounts, which will be managed by Allianz GI’s teams in a subadvisory fashion. Allianz’s value equity team, NFJ Investment Group, will join Virtus as an affiliated manager with $7 billion in AUM.
The partnership also provides for future joint product development of investment solutions for retail clients.
“We look forward to bringing AllianzGI’s multi-asset, thematic equity, and . . .
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