Alpha allianz - Allianz faces questions from SEC about embattled vol funds
The board alleged that when the pandemic started fueling wild volatility in February, Structured Alpha made a fateful bet against further market declines.
For now, it was not feasible to reliably estimate the amount of any possible resolution including potential fines and no provision has been recognised at the current stage, the insurer said.
And the DOJ has now begun its own investigation, with Allianz having received requests from both government bodies for documents and information relating to the Funds.
Description: The Allianz funds used complex options strategies to generate returns but when the coronavirus pandemic sent stock markets into a tailspin in February and March 2020, they plummeted in value, in some cases by 80% or more.
However, it is currently neither feasible to predict how the SEC and DOJ investigations and the pending court proceedings may be resolved nor the timing of any such resolution.
In 2021, over 155,000 employees achieved total revenues of 148.5 billion euros and an operating profit of 13.4 billion euros for the group. These assessments are, as always, subject to the disclaimer provided below. *Including non-consolidated entities with Allianz customers. Press contacts Holger Klotz Allianz SE +49 89 3800 90921 Send email
Allianz Group is setting aside an additional €1.9 billion ($2 billion) to cover expected settlements with U.S. investors and regulators over the collapse of its Structured Alpha funds, the company .
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Allianz SE said Wednesday that it will take a 1.9 billion euro ($2.0 billion) provision in the first quarter after it reached further settlements related to Structured Alpha funds in the U.S. The.
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