Last week
Allianz AG announced that it had acquired a majority stake in the asset manager,
Pimco Advisors. This week Allianz of American Inc. said it will be launching a fund family and has entered into an agreement with
Bisys Fund Services.
The Connecticut-based branch of the German insurance company said the new funds will include five variable annuities and five mutual funds. The five funds will include a standard mix of growth, diversified, global opportunity, fixed income and a money market fund.
Bisys will be providing fund administration, accounting, transfer agency services and distribution consulting for the USAllianz Funds.
The funds will be available on the first of the year through Allianz' internal broker/dealer,
Life USA. The general public will have access to the funds some time in the second quarter of 2000, said
Jennifer Ryan, director of mutual funds for the US Allianz funds. Bisys has also dedicated a wholesaler team to assist in distribution.
Ryan began working at Allianz three weeks ago to develop and market the new fund family. She was formerly managing director of retail investing products at Key Corp. she said.
"Allianz is a great company -- there is a fabulous opportunity to make a huge splash in the mutual fund business in North America," she said.
Ryan's full marketing strategy for the new funds is still in development because of her short time with Allianz. "Allianz will be adding funds in the future but right now we more than have our hands full," she said.
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