‘Clock Is Running’ on Shops to Replace Allianz Mandates

Allianz Global Investors will be removed as the subadvisor from at least 24 mutual funds with a combined $18 billion in assets, as well as at least one variable annuity product, a review of filings shows. “The clock is running on these advisors to find new subadvisors due to the SEC judgment, but it takes time to find replacements and I’m guessing these sponsors were blindsided,” said Jeff Strange, relationship manager at FUSE Research Network.

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Article published on June 15, 2022