Allianz Confirms SEC Probing Its ‘Structured Alpha’ Funds, Subject to Investor Lawsuit
The funds in question are Allianz’s “Structured Alpha” hedge funds managed by Allianz Global Investors. Allianz made the disclosure in its earnings report.
In July, the Arkansas Teacher Retirement System filed a lawsuit in a Manhattan court to recover losses of least $774 million in the first quarter of 2020 for the funds.
Allianz said the case was “legally and factually flawed,” but that it expects that other investor suits may emerge.
Allianz said it was fully cooperating with SEC’s request for information about the Structured Alpha funds.
(Reporting by Tom Sims and Alexander Huebner, editing by Thomas Seythal)
Photograph: U.S. Securities and Exchange Commission building in Washington, D.C. on July 13, 2020. Photo credit: Bill Clark/CQ Roll Call via AP Images.