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After Losing Nearly $60 Million, the Getty Trust Is Suing Finance Giant Allianz for Allegedly Mismanaging Its Investment

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After losing nearly $60 million, the Getty Trust is suing finance giant Allianz for allegedly mismanaging its investment:

The Richard Meier-designed Getty Center in Brentwood, Los Angeles. Photo: Frédéric Soltan/Corbis via Getty Images.

Most financial investors in U.S. or international equity markets acknowledge the potential for volatility and accept the risk of losses.

The Getty said it had closely tracked Allianz’s structured alpha funds before investing and believed its approach fit well with the risk profile it sought.The Getty said its endowment had approximately $9.2 billion in portfolio assets at the end of the calendar year.to cover expected settlements with U.S. investors and government officials over the matter. The structured alpha funds eventually collapsed.

 

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