Allianz SE is to take a charge of EUR3.7 billion to cover the collapse in 2020 of its Florida-based hedge funds, according to a report by Bloomberg.
Allianz SE is to take a charge of EUR3.7 billion to cover the collapse in 2020 of its Florida-based hedge funds, according to a report by Bloomberg.
The company is facing multiple law suits and regulatory investigations after several investors claimed they lost billions of euros when the hedge funds collapsed during the early part of the global pandemic.
Two off the funds, which were designed to withstand market volatility, were liquidated in March 2020, while the others are in the process of being unwound.
