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Allianz Global Income

The Allianz Global Income is a multi-asset fund and client solution that aims to provide a diversified way to seek potential income and capital appreciation while attempting to moderate downside risk relative to an equity-only investment.
Why Allianz Global Income?
It is a multi-asset fund with a targeted allocation to global equities, global convertible securities, global investment grade and high-yield corporate bonds. It aims to provide a diversified way to seek income and capital appreciation while attempting to moderate downside risk relative to pure equity investment.

Global Equities:
On a relative valuation basis, non-US equities appear inexpensive compared to US equities

Global Convertible Securities:
An asymmetric risk/reward return profile – potential for upside participation and lesser downside risk

Global High-Yield Corporate Bonds:
Competitive total return potential and a high coupon to cushion bond price volatility

Global Investment Grade Corporate Bonds:
Stable income with limited default risk

Global portfolios can benefit from a multi-asset approach
Historically, the performance of asset classes can vary during different market conditions. Having a diversified portfolio investing in global equities, global convertible securities, global high-yield corporate bonds, and global investment grade corporate bonds can be beneficial during periods of economic uncertainty.
Data as of December 2024. Source: Morningstar. Global HY Corp ICE BofA Global High Yield Index (Local); Global Convertibles ICE BofA Global 300 Convertible Index; Global Equities MSCI World NR Index; Global IG Corp ICE BofA Global Corporate Index.
In addition, investing in asset classes that demonstrate low correlation to one another may help enhance diversification and reduce portfolio volatility, hence, improving the risk-reward profile of the portfolio.
Source: Morningstar. Data: January 2005 to December 2024. Global HY Corp: ICE BofA Global High Yield Index (Local); Global Convertibles: ICE BofA Global 300 Convertible Index; Global Equities: MSC World NR Index; Global IG Corp: ICE BofA Global Corporate Index; US Equities: S&P 500 Index.
Targeted allocation into global assets
The fund follows a strategic asset allocation approach and focuses on investments across a broad range of asset classes. Aside from increasing overall portfolio diversification, each asset class plays a distinct role:
Source: Voya Investment Management, Allianz Global Investors as of December 2024
Tap the expertise of a seasoned investment team
The investment team follows a disciplined, bottom-up research process which seeks to identify companies that will benefit from positive sustainable change. After confirmation of a company’s fundamentals, the investment team analyzes the company’s capital structure and evaluates each investable security. The team then selects the investment expected to provide the best total return opportunity, depending on the current market environment, while balancing the goals of the strategy.

2025 Global Income Outlook

Justin Kass, Chief Investment Officer of Income and Growth team updates on the Global Income outlook.

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For details, please email us at sgenquiry@allianzgi.com.
   


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Allianz Global Investors and Voya Investment Management entered into a long-term strategic partnership on 25 July 2022, upon which the investment team transferred to Voya Investment Management. This did not materially change the composition of the team, the investment philosophy nor the investment process. Management Company: Allianz Global Investors GmbH. Delegated Manager: Voya Investment Management Co. LLC (“Voya IM”).

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