The funds were run by portfolio manager Greg Tournant, who had been with Allianz Global Investors since 2002, according to a profile that used to be on Allianz’s website.
Tournant did not immediately respond to a LinkedIn message seeking comment and has not responded to multiple previous efforts by Reuters to contact him. Allianz declined to comment. The Allianz funds used complex options strategies to generate returns but when the coronavirus pandemic sent stock markets into a tailspin in February and March 2020, they plummeted in value, in some cases by 80 per cent or more.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: