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HSBC To Oversee Allianz Turkey PFs
HSBC has been selected by Allianz Turkey as the manager of its personal pension funds.
HSBChas been selected byAllianz Turkeyasthe manager of its personal pension funds,Global Pensionsreports. The selection comes as part of a partnership deal between the two firms.
As a part of the move,HSBC Portfolio Managementwill manage all assets and liabilities of Allianz personal pension investment funds in Turkey. The $1.85 billion of assets to be managed include $311.1 million from the premiums collected by Allianz’s life insurer in the country, addsBloomberg.
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