3/27/2020, 6:12 PM (Source: TeleTrader)
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Chart for: ALLIANZ SE NA O.N.

Allianz liquidates two hedge funds due to losses

The investing arm of Allianz SE announced on Friday it was liquidating its Structured Alpha 1000 and Structured Alpha 1000 Plus hedge funds after they suffered big losses during the past few weeks.

"The portfolios were restructured and de-risked significantly during the course of this turmoil, but not without sustaining significant realized losses," a spokesperson for the company told the Wall Street Journal.

In addition, Allianz Global Investors said it will also close a related offshore feed fund.

Baha Breaking News (BBN) / MD