LONDON, Sept 8 (Reuters) - Allianz Global Investors, the asset management arm of German insurer Allianz, is looking for new ways to tap into the commodities super-cycle with a range of products that could launch this year.
Allianz, which has over 1.0 trillion euros ($1.270 trillion) in assets under management and owns PIMCO, the manager of the world's largest bond fund, already has two products that offer investors exposure to the gamut of physical commodities.
'We are looking at further expanding our offering with funds which have exposure to commodities markets,' said Marc Savani, a spokesman for Allianz Global Investors in Frankfurt.
He added the company was considering the fourth quarter of the year as a possible timeframe for any such launch.
Allianz's Commodity Strategy Fund, which has some 213 million euros in assets under management, allocates 18 percent of its portfolio to the precious metals complex, at a time when gold is almost at record highs above $1,260 an ounce.
(Reporting by Amanda Cooper; editing by Keiron Henderson)) ($1=.7875 Euro) ($1=.7875 Euro) Keywords: FUNDS ALLIANZ/COMMODITIES (amanda.cooper@thomsonreuters.com; Reuters messaging amanda.cooper.reuters.com@reuters.net; +44 207 542 3424) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Allianz, which has over 1.0 trillion euros ($1.270 trillion) in assets under management and owns PIMCO, the manager of the world's largest bond fund, already has two products that offer investors exposure to the gamut of physical commodities.
'We are looking at further expanding our offering with funds which have exposure to commodities markets,' said Marc Savani, a spokesman for Allianz Global Investors in Frankfurt.
He added the company was considering the fourth quarter of the year as a possible timeframe for any such launch.
Allianz's Commodity Strategy Fund, which has some 213 million euros in assets under management, allocates 18 percent of its portfolio to the precious metals complex, at a time when gold is almost at record highs above $1,260 an ounce.
(Reporting by Amanda Cooper; editing by Keiron Henderson)) ($1=.7875 Euro) ($1=.7875 Euro) Keywords: FUNDS ALLIANZ/COMMODITIES (amanda.cooper@thomsonreuters.com; Reuters messaging amanda.cooper.reuters.com@reuters.net; +44 207 542 3424) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
