Fact sheet: Allianz MrgArbtStrg

Fund information
Fund name
Allianz Merger Arbitrage Strategy CT NAV EUR
Fund manager company
Allianz Global Investors GmbH
Fund type
Offshore Fund
Fund managers
  • Matthias Mullersince 05/04/2016
  • Tim Woogesince 05/04/2016
Fund objective
The Fund aims to exploit price inefficiencies on the equity market that occur in the course of acquisitions, mergers and other corporate transactions. Depending on the probability of a transaction, the stock market price of the target company differs from the acquisition price that is offered. In order to take advantage of the price difference (transaction risk premium), the Fund may invest in the target company via equities or equity derivatives (e.g. options and futures). If an acquisition is implemented through a stock swap, the Fund may additionally use derivatives to take a short position in the shares of the acquiring company. Although the net exposure resulting from long and short positions will fluctuate, it is generally not expected to exceed 100% of the Fund's assets. The strategy has a worldwide dimension (including emerging markets). Foreign exchange risks exceeding 10% of the Fund's assets must be hedged against the Euro. The investment objective is to generate a high risk-adjusted return in all phases of the market. A special risk mechanism is also used to limit potential losses.
Benchmark
  • EONIA
Investment style
Merger Arbitrage
Investment method
Equity
Quick stats
1 Year return
1%
1 Year rank in sector
36/109
Sector
FO Hedge/Stru Prod - Equity
Yield
-
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
1.55%
Fund size
£848m (£371m last year)
Top in this sector
Fund name1 Year
MontLake ToscaMiCaUCITS27.3%
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DNB ECO Abs Rt20.8%
Income Partners AllSeasnAsCred19.3%
Ennismore Eurpn Smallar Cos14%
...more in FO Hedge/Stru Prod - Equity

Performance snapshot

Holdings snapshot

  • USA89.9%
    Bermuda4.3%
    Switzerland2.2%
    Australia2.2%
    France1%
  • Information Technology37.4%
    Industrials15.8%
    Financials10.1%
    Consumer Discretionary9.3%
    Health Care9.1%
  • International Equities70.2%
    Money Market17.6%
    Others7.2%
    Global Fixed Interest4.7%
    Options0.3%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.9%0.3%-0.2%1%--
Sector0.2%-0.1%0.3%-2.7%3.2%13.8%
Rank within sector41 / 11347 / 12760 / 12036 / 109--
Quartile2nd2nd2nd2nd
Calendar performance
 YTD - 20162015201420132012
Fund0.5%----
Sector-2.3%2.7%2.5%7.1%3.9%
Rank within sector40 / 110----
Quartile2nd
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
-
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
-
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
-
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
-
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
-
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
-
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
-
Price movement
52 week high101.55
52 week low100
Current bid price-
Current offer price-
Current mid price101.13
Region
1USA89.89%
2Bermuda4.28%
3Switzerland2.21%
4Australia2.2%
5France0.97%
6Canada0.23%
7Singapore0.12%
8Japan0.09%
Industry sector
1Information Technology37.37%
2Industrials15.81%
3Financials10.14%
4Consumer Discretionary9.26%
5Health Care9.13%
6Basic Materials5.84%
7Utilities4.79%
8Consumer Staples4.24%
9Others3.19%
Asset type
1International Equities70.2%
2Money Market17.6%
3Others7.2%
4Global Fixed Interest4.7%
5Options0.3%
Individual holdings
1ALLIANZ CASH FACILITY FD-I37.08%
2CHEMTURA CORP2.99%
3ENDURANCE SPECIALTY HLDGS LTD2.98%
4CEPHEID2.96%
5CST BRANDS INC2.96%
6INTERSIL CORP2.96%
7FLEETMATICS GROUP PLC2.95%
8CABELA`S INC2.93%
9INTERACTIVE INTELLIGENCE GROUP INC2.91%
Management
Fund manager group
No data available.
Fund manager company
Allianz Global Investors GmbH
Fund type
Offshore Fund
Fund objective
The Fund aims to exploit price inefficiencies on the equity market that occur in the course of acquisitions, mergers and other corporate transactions. Depending on the probability of a transaction, the stock market price of the target company differs from the acquisition price that is offered. In order to take advantage of the price difference (transaction risk premium), the Fund may invest in the target company via equities or equity derivatives (e.g. options and futures). If an acquisition is implemented through a stock swap, the Fund may additionally use derivatives to take a short position in the shares of the acquiring company. Although the net exposure resulting from long and short positions will fluctuate, it is generally not expected to exceed 100% of the Fund's assets. The strategy has a worldwide dimension (including emerging markets). Foreign exchange risks exceeding 10% of the Fund's assets must be hedged against the Euro. The investment objective is to generate a high risk-adjusted return in all phases of the market. A special risk mechanism is also used to limit potential losses.
Benchmark
  • EONIA
Investment style
Merger Arbitrage
Investment method
Equity
Fund managers
NameSinceBiography
Matthias Muller05/04/2016Matthias Müller is CIO of Allianz Global Investors Systematic’s Multi-Asset, Multi-Strategy team. As a senior portfolio manager, Matthias manages the Allianz Global Investors Dynamic Growth Fund and various institutional mandates as well as funds for unit-linked insurance products. Before joining Allianz Global Investors Systematic, Matthias was responsible for asset allocation and risk management at Allianz Global Investors’s balanced team from 2002 and worked as senior investment strategist at Allianz Asset Management since 1998. He joined the firm from his position as a European equity portfolio manager for Allianz Sachversicherungs-AG. Matthias holds a doctorate in monetary economics from J. W. Goethe University, Frankfurt. Matthias has managed the Allianz Dynamic Growth Fund since its name and objective change from the Allianz Global Equity Fund in February 2010.
Tim Wooge05/04/2016
Compliance
Transparent for Austrian Tax, Transparent for German Tax, Reporting Fund Status, UCITS V Compliant
Domicile
No data available.
Fund for sale in
Austria, Switzerland, Germany, Spain, France, United Kingdom, Italy, Luxembourg, Netherlands, Offshore, Sweden, Taiwan - Province Of China
Allianz Merger Arbitrage Strategy A EUR
Initial charge5%
Annual charge1.25%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.3%
Total expense ratio (TER)-
Bid price100.6
Offer price105.63
Mid price-
CurrencyEUR
Price updated02/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeE99V
Allianz Merger Arbitrage Strategy A NAV EUR
Initial charge5%
Annual charge1.25%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.3%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price100.68
CurrencyEUR
Price updated05/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeE99U
Allianz Merger Arbitrage Strategy AT (H2-USD) NAV USD
Initial charge5%
Annual charge1.25%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.3%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price10.07
CurrencyUSD
Price updated02/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeC1EL
Allianz Merger Arbitrage Strategy AT (H2-USD) USD
Initial charge5%
Annual charge1.25%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.3%
Total expense ratio (TER)-
Bid price10.07
Offer price10.57
Mid price-
CurrencyUSD
Price updated02/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeC1EK
Allianz Merger Arbitrage Strategy AT EUR
Initial charge5%
Annual charge1.25%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.3%
Total expense ratio (TER)1.35%
Bid price102.03
Offer price107.13
Mid price-
CurrencyEUR
Price updated05/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFVET
Allianz Merger Arbitrage Strategy AT NAV EUR
Initial charge5%
Annual charge1.25%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.3%
Total expense ratio (TER)1.35%
Bid price-
Offer price-
Mid price101.95
CurrencyEUR
Price updated02/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFVER
Allianz Merger Arbitrage Strategy CT EUR
Initial charge3%
Annual charge1.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.55%
Total expense ratio (TER)-
Bid price101.05
Offer price104.08
Mid price-
CurrencyEUR
Price updated02/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeE1RG
Allianz Merger Arbitrage Strategy CT NAV EUR
Initial charge3%
Annual charge1.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.55%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price101.13
CurrencyEUR
Price updated05/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeE1RH
Allianz Merger Arbitrage Strategy I EUR
Initial charge-
Annual charge0.69%
Min single investment£1,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.7%
Total expense ratio (TER)0.7%
Bid price1065.88
Offer price1065.88
Mid price-
CurrencyEUR
Price updated02/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeFF2T
Allianz Merger Arbitrage Strategy I NAV EUR
Initial charge-
Annual charge0.69%
Min single investment£1,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.7%
Total expense ratio (TER)0.7%
Bid price-
Offer price-
Mid price1066.74
CurrencyEUR
Price updated05/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeF38P
Allianz Merger Arbitrage Strategy IT (H2-GBP) GBP
Initial charge-
Annual charge0.69%
Min single investment£1,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.7%
Total expense ratio (TER)0.7%
Bid price1077.06
Offer price1077.06
Mid price-
CurrencyGBP
Price updated02/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFJVG
Allianz Merger Arbitrage Strategy IT (H2-GBP) NAV GBP
Initial charge-
Annual charge0.69%
Min single investment£1,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.7%
Total expense ratio (TER)0.7%
Bid price-
Offer price-
Mid price1077.06
CurrencyGBP
Price updated02/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFJVH
Allianz Merger Arbitrage Strategy IT EUR
Initial charge-
Annual charge0.69%
Min single investment£1,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.7%
Total expense ratio (TER)0.74%
Bid price1029.81
Offer price1029.81
Mid price-
CurrencyEUR
Price updated02/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFX0N
Allianz Merger Arbitrage Strategy IT NAV EUR
Initial charge-
Annual charge0.69%
Min single investment£1,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.7%
Total expense ratio (TER)0.74%
Bid price-
Offer price-
Mid price1029.81
CurrencyEUR
Price updated02/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFX0M
Allianz Merger Arbitrage Strategy P EUR
Initial charge-
Annual charge0.69%
Min single investment£100,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.74%
Total expense ratio (TER)-
Bid price1007.92
Offer price1007.92
Mid price-
CurrencyEUR
Price updated02/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeE99X
Allianz Merger Arbitrage Strategy P NAV EUR
Initial charge-
Annual charge0.69%
Min single investment£100,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.74%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price1008.74
CurrencyEUR
Price updated05/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeE99W
Allianz Merger Arbitrage Strategy P2 EUR
Initial charge-
Annual charge0.59%
Min single investment£10,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.64%
Total expense ratio (TER)-
Bid price1008.95
Offer price1008.95
Mid price-
CurrencyEUR
Price updated02/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeE99Z
Allianz Merger Arbitrage Strategy P2 NAV EUR
Initial charge-
Annual charge0.59%
Min single investment£10,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.64%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price1009.77
CurrencyEUR
Price updated05/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeE99Y
Allianz Merger Arbitrage Strategy PT (H2-CHF) CHF
Initial charge-
Annual charge0.69%
Min single investment£200,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.74%
Total expense ratio (TER)-
Bid price1001.32
Offer price1001.32
Mid price-
CurrencyCHF
Price updated02/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeE9XD
Allianz Merger Arbitrage Strategy PT (H2-CHF) NAV CHF
Initial charge-
Annual charge0.69%
Min single investment£200,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.74%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price1001.32
CurrencyCHF
Price updated02/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeE9XC
Allianz Merger Arbitrage Strategy PT (H2-GBP) GBP
Initial charge-
Annual charge0.69%
Min single investment£10,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.74%
Total expense ratio (TER)-
Bid price1031.56
Offer price1031.56
Mid price-
CurrencyGBP
Price updated02/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeE0XR
Allianz Merger Arbitrage Strategy PT (H2-GBP) NAV GBP
Initial charge-
Annual charge0.69%
Min single investment£10,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.74%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price1032.41
CurrencyGBP
Price updated05/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeE0XQ
Allianz Merger Arbitrage Strategy PT EUR
Initial charge-
Annual charge0.69%
Min single investment£100,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.74%
Total expense ratio (TER)-
Bid price1001.68
Offer price1001.68
Mid price-
CurrencyEUR
Price updated02/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeE7LP
Allianz Merger Arbitrage Strategy PT NAV EUR
Initial charge-
Annual charge0.69%
Min single investment£100,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.74%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price1001.68
CurrencyEUR
Price updated02/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeE7LO
Allianz Merger Arbitrage Strategy RT EUR
Initial charge-
Annual charge0.75%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.8%
Total expense ratio (TER)-
Bid price100.38
Offer price100.38
Mid price-
CurrencyEUR
Price updated02/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeE89I
Allianz Merger Arbitrage Strategy RT NAV EUR
Initial charge-
Annual charge0.75%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.8%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price100.38
CurrencyEUR
Price updated02/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeE89J
Data provided by

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You should be aware that prices may fall as well as rise and that the income derived can go down as well as up. When buying or selling any investment that fluctuates in price or value you may get back less than you invested. Past performance is not necessarily a guide to future performance.