REG - Allianz Tech Trust - Investment Management Arrangements

Allianz Technology TrustAnnouncement

25/07/2022 12:45

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RNS Number : 6427T  Allianz Technology Trust PLC  25 July 2022

 

 

Allianz Technology Trust Ltd (the "Company")

LEI : 549300OMDPMJU23SSH75

 

25 July 2022

 

Investment Management Arrangements

 

On 13 June 2022, Allianz Global Investors ("AllianzGI"), the parent company of
the Company's investment manager, announced that it had entered into a
definitive agreement with Voya Financial, Inc ("Voya") relating to a strategic
partnership, whereby AllianzGI will transfer selected investment teams and
assets comprising most of its U.S. business to Voya Investment Management, the
asset management business of Voya (the "Transfer"). AllianzGI and Voya have
today announced that the Transfer is now complete. Consequently, the US-based
Global Technology Team responsible for managing the Company's portfolio has
transferred to Voya with effect from 25 July 2022 (the "Effective Date").

 

The Board has spent time discussing the Transfer with the Company's investment
manager and with the Global Technology Team based in San Francisco. The Board
is confident that there will be minimal impact on the management of the
Company's portfolio, with all members of the Global Technology Team
transferred to Voya and continuing to manage the Company's portfolio. It is
anticipated that there will be no change to the investment process. The Board
has been given assurances by Mike Seidenberg, who has been a member of the
team since 2009 and who has assumed the role of the Company's lead portfolio
manager from Walter Price as communicated before the AGM earlier in the year,
of his commitment to the team for the foreseeable future.

 

The Company will retain Allianz Global Investors GmbH, UK Branch (the
"Manager") as its AIFM and the Manager will also continue to provide
administrative and company secretarial services to the Company. However, as a
result of the Transfer, an amendment to the agreement between the Company and
the Manager (the "AIFM Agreement") has been made to enable the delegation of
discretionary portfolio management services to Voya from the Effective Date.
All other provisions of the AIFM Agreement remain in place and the aggregate
fees paid by the Company to AllianzGI and Voya do not change.

 

 

Enquiries

Kelly Nice

Company Secretary

02032467405

 

Stephanie Carbonneil

Head of Investment Trusts

02032467256

 

Neil Morgan/Joe Winkley

Winterflood Investment Trusts

Corporate broker

020 3100 0000

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