Allianz Global Investors and Daman Investments Launches Emirates’ First Onshore Feeder Funds

Allianz Global Investors (AllianzGI), one of the world’s leading active investment managers, and Daman Investments, a leading provider of non-banking financial services in the UAE since 1998 , are pleased to announce UAE’s first onshore feeder fund for retail investors.

The initiative offers a unique opportunity for retail investors to access professionally managed international funds . This enables investors to diversify their portfolios through investments in a broad range of asset classes, geographies and trending sectors like Artificial Intelligence.

The two new funds being offered by AllianzGI1 in collaboration with Daman Investments replicate their flagship strategies focusing on:

• • 1. Income & Growth: With over $55bn assets under management, the Allianz Income and Growth strategy takes a US centric multi-asset approach to delivering consistent income and capital growth with lower volatility through investments in large-cap equities (with a covered call overlay), convertible securities and high-yield bonds. The fund aims to deliver a stable and sustainable monthly distribution to investors.

• 2. Global Artificial Intelligence: With over $12bn assets under management, the Allianz Global Artificial Intelligence fund aims to generate long-term capital growth by investing in global equity markets with a focus on artificial intelligence (AI).The goal of the fund is to navigate the changes introduced by this transformative technology, that has the potential to disrupt every industry.

The funds have been established under the umbrella of Allianz Global Investors AE Feeder Funds and comply with regulation No. (01/RM) of 2023 issued by the Securities and Commodity Authority (SCA) which came into effect on 1 April 2024. Furthermore the funds aim to encourage the development of a comprehensive asset management industry in the UAE over the next decade.

Malie Conway, Head of Global Clients & Growth Markets at AllianzGI comments:

“We are excited to be working in this partnership to provide retail investors with access to some of AllianzGI’s best-known global investment strategies backed by Daman Investments’ deep understanding of the local market.”

Mohamed Hmidi, Director of Business Development Middle East at AllianzGI says:

“AllianzGI is proud to contribute to the growth of the asset management industry in the UAE by providing our local distribution partners and their retail clients with our global investment expertise. We are all excited to launch the first local onshore funds in the market and look forward to further expanding our presence in the region.”

Mr. Shehab Gargash, Founder & Chairman, Daman Investments PSC stated:

“We laud the UAE government & the SCA’s efforts to introduce international best practices to further boost the Asset Management Industry. This collaboration with one of the world’s best institutions is a testament to our relentless pursuit of excellence and our dedication towards providing innovative solutions that meet the needs of investors.”

About Allianz Global Investors

Allianz Global Investors is a leading active asset manager with over 600 investment professionals in over 20 offices worldwide and managing EUR 553 billion in assets*. We invest for the long term and seek to generate value for clients every step of the way. We do this by being active – in how we partner with clients and anticipate their changing needs, and build solutions based on capabilities across public and private markets. Our focus on protecting and enhancing our clients’ assets leads naturally to a commitment to sustainability to drive positive change. Our goal is to elevate the investment experience for clients, whatever their location or objectives.