Allianz Asset Management is reportedly planning to set up an asset management company in Malaysia.
The chairman of Allianz Asset Management Jay Ralph told publication The Sun Daily that the company has no specific plan at the moment and is seeking at the opportunities in Malaysia.
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Ralph added that the firm has a strong brand and market position in Malaysia through its insurance business, Allianz Malaysia.
Currently, Allianz Asset Management, a fund management unit of Allianz, operates under two brands globally through Allianz Global Investors and Pacific Investment Management Company (PIMCO).
Ralph also said that around 30% of Allianz’s operating profits come from Allianz Asset Management, while about 10 % of the 1.8 trillion AUM managed by the firm comes from its Asian operations.
"We are evaluating and exploring the idea. However, there is nothing concrete as we have not completed our analysis yet. The Malaysian market is attractive.
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By GlobalData"The growth dynamics in the Asian markets is faster than any other markets. I would say that approximately 15% of our sales from Asia," Ralph added.
