ALIZF - Allianz: Total Return Play For The COVID-19 Environment
Allianz (ALIZF) is an insurance stalwart. Not only does it provide insurance, but it's the home to PIMCO, one of the most renowned asset managers in the world. Its performance is in the top bracket of European insurers, with an ample and extremely well-covered dividend.
Source: Allianz Investor presentation 2020
Our investment case for Allianz is simple. It is a company that is very well-managed, having delivered consistent and solid results under the current leadership, and it trades at a discount to both other insurers and asset managers despite owning a leading asset