Allianz Global Investors Acquires 2% Stake in Guomin Pension

Allianz Global Investors (AllianzGI), a leading global active asset manager, has obtained regulatory approval to become the first foreign asset manager to invest in China's Guomin Pension & Insurance Company Limited. The investment involves a 2% stake, representing approximately 228 million newly issued shares valued at RMB 284 million (USD 39 million). This strategic move is part of AllianzGI's long-term growth strategy in China, a market with significant potential, especially in the burgeoning sector of personal pension systems. Established in 2022, Guomin Pension aims to enhance China's private pension market as an integral response to the nation’s ageing population. This investment will also bolster Guomin Pension's capital and aid in its mission to provide more inclusive financial solutions. Projections suggest substantial growth in China's third pillar personal pensions, potentially reaching RMB 4-7 trillion by 2030, depending on regulatory reforms. AllianzGI aims to leverage its global expertise in asset management and product development to contribute to Guomin Pension's success in meeting China’s retirement needs.