Allianz Dresdner Asset Management (ADAM) has re-named itself Allianz Global Investors. Joachim Faber, the CEO, says the new name serves three purposes: it reinforces the strong connection to Allianz Group as an Integrated Financial Services Provider and demonstrates Allianz’s commitment to asset management. It highlights the global scope of our client base and network and underpins the focus on what the firm is all about – investing.
A phased roll-out for the new name will start today. The investment companies in the group -PIMCO, RCM, Oppenheimer Capital, NFJ, Nicholas-Applegate, AHFP and PEA – will retain their brand names, but add the endorsement: “A company of Allianz Global Investors.” The retail business will move towards one name globally – Allianz Global Investors. The goal is to complete the brand roll-out by the end of the first quarter 2005.
ADAM reported strong net inflows in the first half of 2004 of € 9 billion (into third party funds only). The operating result grew from € 320 million (H1/2003) to € 361 million (H1/2004), thanks to stronger revenues and an improved cost income ratio of 67.2% (H1/2003: 69%) due to continuous cost management. ADAM manages € 753 billion as of June 2004.
“These figures clearly demonstrate that we have a sound strategy and business model in place,” says Faber. “We have evolved our distinctive business model and these impressive results show that it works. We rank among the world’s most successful investment management groups, in terms of operating earnings growth and net inflows. What makes us different is that we empower investment managers to focus on their passion and deliver stronger, more consistent results by supporting them with sophisticated business management.”