AllianzGI announces two new hires for Macro Unconstrained Fixed Income team

26/05/2021

Summary

Allianz Global Investors, one of the world’s leading active asset managers, announced today that it has two new hires joining its Macro Unconstrained Fixed Income team, which manages assets of £7.5bn across 4 strategies. Gaurav Saroliya will join the team on 1 July and Joe Pak in August, both as Portfolio Managers.

 

Allianz Global Investors, one of the world’s leading active asset managers, announced today that it has two new hires joining its Macro Unconstrained Fixed Income team, which manages assets of £7.5bn across 4 strategies. Gaurav Saroliya will join the team on 1 July and Joe Pak in August, both as Portfolio Managers.

Gaurav Saroliya was most recently Head of Macro Strategy at Oxford Economics and Strategist at Lombard Street Research. He has previously been a sell side Macro Strategist and, at the beginning of his career, spent five years helping to manage an absolute return Fixed Income fund at UBP. Gaurav has a PhD in Economics from York University.

Joe Pak joins us from Rothesay Life, the UK’s largest pensions insurance specialist, where he was lead portfolio manager on a €2bn European periphery bond portfolio and on the firm's macro absolute return portfolio which he launched in 2019. He comes with extensive experience in trading a broad range of derivatives, both at Rothesay and also in his previous position as a trader on RBS’ US rates options desk. Joe’s experience lends itself particularly well to Allianz Fixed Income Macro Fund, where he will be named co-lead Portfolio Manager. He will also be named co-deputy manager on Allianz Strategic Bond Fund, and given his rates background, deputy manager on Allianz Gilt Yield. He graduated with degrees in Economics and Sociology from Duke University and joins in August.

Both new joiners will be based in London, alongside team head Mike Riddell and Associate Portfolio Managers Jack Norris and Daniel Schmidt.

Commenting on the appointments, Mike Riddell, Head of Macro Unconstrained at AllianzGI said:

“With Gaurav and Joe joining the team, we can set the direction for further growth. Both bring in a rich experience in macro-driven investing and add to the broad and very diverse skill set in our team.”

AllianzGI’s Macro Unconstrained team is set to announce the hire of one additional experienced macro portfolio manager in the coming weeks.



Contacts

Sarah Einig +44 203 246 7846 sarah.einig@allianzgi.com
Nina Dhatt +44 7783 170 728 nina.dhatt@allianzgi.com

Notes to editors
The Macro Unconstrained team manages over €8.7bn (or over $10bn or £7.5bn) across 4 strategies:

  • The flagship Allianz Strategic Bond Fund is the number one performing bond fund in the world across all Morningstar Fixed Income sectors in the three years to end April 2021, with a return of 46.7%1  versus its benchmark return of 10.4%. The fund has achieved its target of a correlation to equities of close to zero over the three years.
  • Allianz Gilt Yield* is the number 1 performing conventional all stocks gilt fund (i.e. stripping out the ultra-long dated gilt funds) in the IA Sterling Gilt sector since Mike Riddell took over management at the end November 2015
  • Allianz Index Linked Gilt* is the number 1 performing fund in the IA Index -Linked Gilt sector since launch in Feb 2018
  • Allianz Fixed Income Macro Fund is in the 15th percentile within the IA Targeted Return sector since launch July 2018, while achieving its targets of a positive absolute return over every rolling 12-month period, and a close to zero correlation versus equities, government bonds and corporate bonds since launch

1 Based on the Allianz Strategic Bond Fund I (Inc) GBP share class, net of fees. Past performance is not a reliable indicator of future results.
* Funds available for distribution in UK only.


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