INFORMATION FOR FUND DISTRIBUTORS
AND INSTITUTIONAL INVESTORS ONLY.
Change to European Equity
Growth-Team (EEG)
April 2017
FAQ — Frequently Asked Questions
Overview
I.
II.
III.
Questions related to departure of Matthias Born
Impact on the funds & mandates managed by Matthias
Biographies
I. Questions related to departure of Matthias Born
When is Matthias Born leaving the company?
Matthias will leave AllianzGI at the very latest in September 2017. A more precise date is not yet available. The extended leaving period
through to late summer will ensure a seamless transition of portfolio management responsibilities within the team, ensuring that there
is no tangible impact for our clients. We appreciate the early notice given by Matthias and his commitment to giving a smooth
handover.
Why is Matthias leaving the company?
After a successful 16 years at AllianzGI, Matthias has chosen to pursue other opportunities within the investment management industry.
As we understand it, his new responsibilities will provide a significant change to his current role at AllianzGI, and we wish him all the
best with his future endeavours.
What is being done to keep the other team members in place?
We are committed to retain all our investment professionals as far as possible. The retention effort encompasses a number of
measures. For example, the changes in portfolio responsibilities as discussed in detail below, offer valuable new opportunities to
existing team members and show our strong commitment to rewarding outstanding performance.
The portfolio managers work on a team basis, to ensure the absence, retirement or departure of any individual is not disruptive. We
minimize the impact of any turnover in our portfolio management team executives through contingency planning and succession
planning. Each portfolio manager who is responsible for investment decisions has a designated deputy who can assume responsibility
when necessary. Additionally, our portfolio managers work on a team basis, so the success of our franchise is not dependent upon any
one individual. Investment teams are further strengthened by our ongoing commitment to expanding the skills and investment
knowledge of team members. Should a team member leave the firm, this process gives the firm the depth to promote from within,
which is exactly we have done in the event of Matthias leaving (see section II).
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INFORMATION FOR FUND DISTRIBUTORS
AND INSTITUTIONAL INVESTORS ONLY.
Are there any plans to strengthen the team further?
We can confirm that Giovanni Trombello will be joining the team. Mr. Trombello has managed the Allianz Deluxe consumer sector
fund between 2006 and 2016. He has 18 years of investment-industry experience.
Who is now leading the Growth team?
Thorsten Winkelmann will head the team as Investment Style Leader Growth moving forward.
II. Impact on the funds & mandates managed by Matthias
Which mutual funds were managed by Matthias?
Matthias is currently the lead portfolio manager for the following funds:
-Allianz Euroland Equity Growth
-Allianz Wachstum Euroland
-Concentra
-Allianz German Equity
Matthias is currently the co-lead portfolio manager, alongside Thorsten Winkelmann, for the following funds:
- Allianz Europe Equity Growth Select
- Allianz Wachstum Europa
- Allianz Continental European Fund
Matthias is also lead or co-lead portfolio manager for a number of segregated accounts.
Who will take over these funds from Matthias?
We can confirm the following changes to portfolio management responsibilities:
Allianz Europe Equity Growth
No change. Lead Portfolio Manager – Thorsten Winkelmann, and Deputy – Robert Hofmann.
Allianz Europe Equity Growth Select
Previously: Co-Lead Portfolio Managers – Thorsten Winkelmann and Matthias Born, and no deputy.
New PM team: Co-Lead Portfolio Managers – Thorsten Winkelmann and Robert Hofmann, and no deputy.
Allianz Euroland Equity Growth
Previously: Lead Portfolio Manager – Matthias Born, and Deputy – Andreas Hildebrand.
New PM team: Lead Portfolio Manager – Andreas Hildebrand, and Deputy – Marcus Morris-Eyton.
Allianz Continental European Fund
Previously: Co-Lead Portfolio Managers – Thorsten Winkelmann and Matthias Born, and Deputy – Marcus Morris-Eyton.
New PM team: Co-Lead Portfolio Managers – Thorsten Winkelmann and Marcus Morris-Eyton, and Deputy – Martin Hermann.
Portfolio management responsibilities for Concentra and Allianz German Equity: Please see separate communication.
When will this happen?
The transition will take place slowly over the coming weeks, in preparation for Matthias’ departure in September. Matthias is committed
in ensuring a smooth and complete transition of his responsibilities before his departure, and we are very confident that there will be no
tangible impact for our clients.
Thorsten Winkelmann will oversee a structured hand-over of Matthias’ responsibilities to the members of his team.
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INFORMATION FOR FUND DISTRIBUTORS
AND INSTITUTIONAL INVESTORS ONLY.
Who will manage these funds during the transition period?
The responsibilities of team members are currently unchanged, with the exchange of portfolio management responsibilities taking
place over the coming weeks, ahead of Matthias’ departure in September.
What is the likely impact on the “classic” Europe Equity Growth fund (strategy where Thorsten is the lead portfolio manager)?
The investment philosophy and process of Europe Equity Growth will remain consistent. There are no changes at all foreseen to the
underlying investment concepts. Clients can be assured of AllianzGI’s strong commitment to this investment style.
How will the departure of Matthias’s expertise impact the performance and process of the strategies managed by the team?
The Europe Equity Growth team enjoys a very strong team culture which has been highly supportive in building a strong track record
across all funds, and which remains intact. Additionally, clear investment criteria have helped to frame investment decisions that are
analysed, reviewed and challenged by the full team.
The funds managed according to the EEG philosophy have always followed a team approach with a robust and sustainable investment
process, with ideas generated with support from the analyst platform. We will therefore continue with our proven investment
philosophy that is not based on a single person, but instead a team approach. We are confident in both the current team’s abilities and
the resources we have available. AllianzGI has acknowledged this successful process, strengthening the Growth team over time. We are
confident that the team has the necessary experience (average team experience of remaining team stands at 12 years) and expertise
for a seamless transition. We are fully convinced that the changes reflect the continuity of the Growth Team franchise and also address
the client's and the team's wishes properly.
Will the investment process be impacted?
We will not see any changes to the investment philosophy and process of the Growth strategy. The investment process has been well
established since the inception of Euroland Equity Growth in 2002, with a robust investment process that has outperformed in a range
of market environments, and which is ingrained in the investment DNA of all team members. The investment process has never relied
on individuals, but has always followed an approach involving the input from the full team.
III. Biographies
Andreas Hildebrand, CFA
Vice President, Portfolio Manager, European Equities
Andreas Hildebrand is a portfolio manager and vice president with Allianz Global Investors, which he joined in 2007. As a member of the
European Equities team, he is involved in the management of the Europe Equity Growth portfolios. Mr. Hildebrand previously worked in
the firm’s Equity Research department covering European healthcare companies. He has 10 years of investment industry experience.
Mr. Hildebrand has a Master’s degree in Economics from Ludwig Maximilians University, Munich, with additional studies at University
Libre de Bruxelles and Solvay Business School. He is a CFA charterholder. Andreas has been the official Deputy Portfolio Manager on
Allianz Euroland Equity Growth/Allianz Wachstum Euroland since 2012, and has therefore been a large part of the success of the
strategy.
Marcus Morris-Eyton, CFA
Vice President, Portfolio Manager, European Equities
Marcus Morris-Eyton is a Portfolio Manager within the Europe Equity Growth team at Allianz Global Investors, having joined the firm in
2011. Prior to joining the Europe Equity Growth team Marcus worked as a Discretionary Sales Manager at AGI in London, and also
worked at Credit Suisse in equity research. He was named one of the Top 40 Under 40 Rising Stars in Asset Management by Financial
News in 2015. Marcus is a CFA Charterholder, and graduated with a First Class Honors degree, in English and philosophy from the
University of Leeds.
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Giovanni Trombello, CFA
Director, Portfolio Manager, European Equities
Giovanni Trombello is a Portfolio Manager for European Equities with Allianz Global Investors, which he joined in 2009. He was previously a Senior Research Analyst within the European Consumer team, covering the food, beverage and tobacco sectors. Mr. Trombello
has managed the Allianz Deluxe consumer sector fund between 2006 and 2016. He has 18 years of investment-industry experience.
Mr. Trombello previously worked at Cominvest, where he covered food, beverage, household and personal goods (including luxury
and sportswear) and tobacco, at PriceWaterhouseCoopers in tax consultancy, and at Landesgirokasse Stuttgart in banking. He has a
master’s degree in international taxation and finance from the University of Mannheim. Mr. Trombello is a CFA charterholder and
holds the DVFA/Certified European Financial Analyst (CEFA) designation.
.
Investing involves risk. The value of an investment and the income from it may fall as well as rise and investors may not get back the full amount invested. The
volatility of fund unit prices may be strongly increased. Past performance is not a reliable indicator of future results. If the currency in which the past performance
is displayed differs from the currency of the country in which the investor resides, then the investor should be aware that due to the exchange rate fluctuations
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any particular person and are not guaranteed. The views and opinions expressed herein, which are subject to change without notice, are those of the issuer and/or its affiliated companies at the time of publication. The data used is derived from various sources, and assumed to be correct and reliable, but it has not been independently verified;
its accuracy or completeness is not guaranteed and no liability is assumed for any direct or consequential losses arising from its use, unless caused by gross negligence or
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financial reports and the key investor information document in English. Please read these documents – which are solely binding – carefully before investing. This is a marketing communication. Issued by Allianz Global Investors GmbH (www.allianzgi-regulatory.eu), a limited liability company incorporated under the laws of Germany with its
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Source: Allianz Global Investors; April 2017
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