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An open letter to our clients
The impact of Covid-19 is being felt across the world. It has ushered in significant market volatility and uncertainty, as well as posing significant humanitarian challenges.
At Allianz Global Investors, our primary focus is on helping our clients and our colleagues safely navigate the uncharted territory we find ourselves in. We have moved quickly to protect and support our employees and to ensure we can continue to deliver our products and services to you in the seamless way you expect of us.
While the world battles the coronavirus pandemic, China has already made strides towards mitigating the virus’s effect on its people and economy. Although the country is not yet out of danger, we expect China’s economy to recover in the second half of this year – which could be another positive signal for China’s domestically driven A-share market.
The US Federal Reserve cut rates to near zero over the weekend in a bid to ease pressure on the global financial system. Yet stockmarkets are unlikely to be reassured. With the course of the coronavirus outbreak uncertain and governments acting increasingly aggressively to contain or delay its spread, a global recession looks all but certain. Investors should recognise that we are in bear-market territory and adjust accordingly. US Treasuries and gold could do well, but investors may also want to add risk in undervalued sectors such as energy.
Allianz Global Investors is one of the world’s leading active investment managers. Understanding our clients’ needs in order to act to their best advantage is embedded in our business, using our insightfulness to partner with clients and to drive performance.
Allianz Global Investors is committed to active investment across a broad range of investment capabilities. We address the challenges our clients face with forward-thinking strategies and customized solutions.
Allianz Global Investors has worldwide investment capabilities with products and strategies that are underpinned by the knowledge and experience of a global network of portfolio managers and analysts. It provides investors access to a broad spectrum of asset classes and investment style.