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
  • Tim Woogesince 06/04/2016
  • Matthias Mullersince 06/04/2016
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 Year rank in sector
-
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
£793m (£327m last year)
Top in this sector
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Income Partners AllSeasnAsCred18.7%
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Majedie Tortoise16.9%
...more in FO Hedge/Stru Prod - Equity

Performance snapshot

Holdings snapshot

  • USA82.5%
    UK6.6%
    Italy3.3%
    France2.5%
    Switzerland2.1%
  • Information Technology33.9%
    Health Care12.2%
    Consumer Discretionary11.2%
    Basic Materials10.6%
    Industrials9.4%
  • International Equities70.6%
    Money Market17.7%
    Others7.6%
    Global Fixed Interest6.6%
    Options0.6%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0%-0.4%-0.5%---
Sector0.5%1.7%1.2%-1%5.4%15.6%
Rank within sector71 / 12085 / 12268 / 116---
Quartile3rd3rd3rd
Calendar performance
 YTD - 20162015201420132012
Fund0.1%----
Sector-1.8%2.7%2.5%7.1%3.9%
Rank within sector45 / 112----
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 low99.71
Current bid price-
Current offer price-
Current mid price100.69
Region
1USA82.46%
2UK6.57%
3Italy3.33%
4France2.5%
5Switzerland2.12%
6Netherlands1.52%
7Japan1.26%
8Canada0.23%
Industry sector
1Information Technology33.89%
2Health Care12.15%
3Consumer Discretionary11.19%
4Basic Materials10.57%
5Industrials9.4%
6Consumer Staples9.17%
7Utilities7.69%
8Financials3.78%
9Others1.93%
Asset type
1International Equities70.6%
2Money Market17.7%
3Others7.6%
4Global Fixed Interest6.6%
5Options0.6%
6Alternative Investment Strategies-3%
Individual holdings
1ALLIANZ CASH FACILITY FD-I37.56%
2LINKEDIN CORP3%
3VIRGIN AMERICA INC3%
4WHITEWAVE FOODS CO2.86%
5ARM HLDGS2.74%
6INCONTACT INC2.71%
7MEDIVATION INC2.68%
8AXIALL CORP2.65%
9AVG TECHNOLOGIES NV2.62%
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
Tim Wooge06/04/2016
Matthias Muller06/04/2016Matthias 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.
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
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 price100.19
Offer price105.2
Mid price-
CurrencyEUR
Price updated27/09/2016
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 price100.19
CurrencyEUR
Price updated27/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeE99U
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 price101.53
Offer price106.61
Mid price-
CurrencyEUR
Price updated27/09/2016
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 price100
CurrencyEUR
Price updated06/07/2015
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 price100.69
Offer price103.71
Mid price-
CurrencyEUR
Price updated27/09/2016
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 price100.69
CurrencyEUR
Price updated27/09/2016
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 price1060.35
Offer price1060.35
Mid price-
CurrencyEUR
Price updated27/09/2016
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 price1060.35
CurrencyEUR
Price updated27/09/2016
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 price1070
Offer price1070
Mid price-
CurrencyGBP
Price updated27/09/2016
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 price1070
CurrencyGBP
Price updated27/09/2016
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 price1024.47
Offer price1024.47
Mid price-
CurrencyEUR
Price updated27/09/2016
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 price1024.47
CurrencyEUR
Price updated27/09/2016
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 price1002.72
Offer price1002.72
Mid price-
CurrencyEUR
Price updated27/09/2016
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 price1002.72
CurrencyEUR
Price updated27/09/2016
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 price1003.52
Offer price1003.52
Mid price-
CurrencyEUR
Price updated27/09/2016
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 price1003.52
CurrencyEUR
Price updated27/09/2016
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 price997.07
Offer price997.07
Mid price-
CurrencyCHF
Price updated27/09/2016
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 price997.07
CurrencyCHF
Price updated27/09/2016
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 price1025.03
Offer price1025.03
Mid price-
CurrencyGBP
Price updated27/09/2016
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 price1025.03
CurrencyGBP
Price updated27/09/2016
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 price996.56
Offer price996.56
Mid price-
CurrencyEUR
Price updated27/09/2016
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 price996.56
CurrencyEUR
Price updated27/09/2016
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 price99.88
Offer price99.88
Mid price-
CurrencyEUR
Price updated27/09/2016
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 price99.88
CurrencyEUR
Price updated27/09/2016
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.