Business & Finance

Reuters exclusively reports U.S. DOJ looking into conduct of Allianz fund managers

Reuters exclusively reported that the U.S. Department of Justice investigation into German insurer Allianz is looking at possible misconduct by fund managers and misrepresentation of risk to investors. The probe, disclosed by the company on Aug. 1, is focused on Allianz funds that used complex options strategies to generate returns but racked up massive losses when the spread of COVID-19 triggered wild stock market swings in February and March 2020.

Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Business & FinanceEquities
Regions: Americas
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
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