FRANKFURT: Allianz ALVG.DE has dismissed two asset managers who oversaw a group of investment funds that collapsed after racking up massive losses when the spread of coronavirus triggered wild market swings, according to regulatory filings.
The downfall of the US$15 billion Structured Alpha funds has landed the German insurance company in hot water with the U.S. Department of Justice (DOJ) and Securities and Exchange Commission, which are both investigating what went wrong.
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