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(From Life Insurance International)
Germany's Allianz is steadily growing a worldwide network of asset management subsidiaries under the Allianz Global Investors brand that the group launched in 2004. Martin Owens reports Allianz, the German insurance giant, has firmly targeted global asset management as one of its priority lines of business. And Allianz Global Investors, rebranded as such from Allianz Dresdner Asset Management (ADAM) in late 2004, has reported a robust start to its 2005 trading: its overall net inflows and assets under management show sharp increases.
A measure of the size of the group's asset management interests may be seen by the fact that Allianz Global Investors, effectively the holding company of a number of global investment subsidiaries, managed total assets of just over E800 billion ($971 billion) at the end of March. This compares to total assets of E753 billion managed by ADAM at the end of June 2004 and places Allianz …