Allianz Real Estate sees Asian assets rising to 10-15% of global AUM
Allianz Real Estate sees Asian assets rising to 10-15% of global AUM. SINGAPORE (Reuters) - Allianz Real Estate sees an opportunity to expand its asset allocation in Asia to 10-15% in the medium term, the investment manager's regional head said after it agreed to buy a A$648 million ($447 million) Australian logistics portfolio with a joint venture. "We still believe in the long-term potential of the region. The important thing is how do you navigate through the next 24-36 months and the investment that we make has to be able to reflect that," the company's Asia Pacific CEO Rushabh Desai told Reuters on Thursday. Allianz Real Estate had 5.5 billion euros of assets under management in Asia Pacific as of end-2019, or about 7.5% of its global total.