Allianz Merger Arbitrage Strategy


Fund Strategy Event Driven
Fund Geography Global
Investment Advisor Allianz GI
Portfolio Manager Tim Wooge
Fund Currency EUR
Fund AUM €317.8m
Fund AUM (GBP) £277m
Fund AUM as of 20 September 2019
Fund Inception 30 October 2012
Fund Indices AH Event Driven UCITS Index
Sub Index - Merger Arbitrage

Fund Objective

The fund aims to exploit price inefficiencies on the equity market that occur in the course of acquisitions, mergers and other corporate transactions. Depending on the probability of a transaction, the stock market price of the target company differs from the acquisition price that is offered. In order to take advantage of the price difference (transaction risk premium), the fund may invest in the target company via equities or equity derivatives (e.g. options and futures). If an acquisition is implemented through a stock swap, the fund may additionally use derivatives to take a short position in the shares of the acquiring company. Although the net exposure resulting from long and short positions will fluctuate, it is generally not expected to exceed 100% of the fund´s assets. The strategy has a worldwide dimension (including emerging markets). Foreign exchange risks exceeding 10% of the fund´s assets must be hedged against the Euro. The investment objective is to generate a high risk-adjusted return in all phases of the market. A special risk mechanism is also used to limit potential losses.


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