Allianz Global Investors to spread its reach to Indonesia

allianz global investors to step intoindonesia

Allianz Global Investors revealed its plans of procuring an Indonesia-based RHB Asset Management from shareholders RHB Banking Group and RHB Sekuritas. RHMAM had asset of $480 million until December 31, 2020 and with this deal it can enjoy the fruits of AllianzGi’s investment skill and solutions by bringing a different view point to the Indonesia asset management market.

It is anticipated that transaction process will accomplish in 4Q 2021 and is subject to many conditions along with the consent by the Indonesian Financial Services Authority.  Allianz GI said that leveraging its franchise in Southeast Asia has long been a focus for the firm.

“We see Southeast Asia as the next growth engine besides China; backed by the solid presence of Allianz SE in Indonesia, the proposed acquisition is a confident stride to accelerate our entry into this fast-growing market,” Tobias Pross, AllianzGI chief executive officer, said in the statement.

The firm employs 690 investment professionals in 23 offices worldwide and manages €598 billion in assets for individuals, families and institutions, as of 31 March 2021.