Allianz Global Investors

🍲On this #WorldFoodDay, consider how we can each take small steps to help bridge this gap and combat food inequality. Did you know that over 700 million people are living with hunger? Meanwhile, more than one billion tons of food is wasted each year - enough to feed two billion people annually. Food insecurity is a rising global threat, and innovations in food production could play a crucial role in creating more resilient food systems and reducing waste.   💡Read more to discover how food is lost and wasted, and how AI and digitalisation can optimise food production to make a change and ensure that everyone has access to adequate, nutritious, and sustainable food: https://ow.ly/Qf2x50XccP6 #Sustainability #FoodWaste #Biodiversity #AI

Tariffs, Tech, and the China Pivot The latest tariff turbulence is more than just headlines. The US–China decoupling is not a phase and investors need to recalibrate. This week’s China Briefing dives into: * Why China A shares are outpacing H shares amid volatility * How the upcoming 5-Year Plan will double down on innovation, R&D, and self-sufficiency * Why multinationals may no longer be the best proxy for China’s growth * What’s driving resilience in domestic tech and liquidity The takeaway? China’s equity story is increasingly local, increasingly tech-driven, and increasingly strategic. #ChinaBriefing #Tariffs

Making every volunteering hour count: From coastal cleanups in Singapore to park sweeps in Frankfurt and Munich and riverbanks in London, our colleagues across six offices rolled up their sleeves again to support World Cleanup Day 2025, a global movement recognised by the United Nations.   A special thank you to our Local Engagement Groups for organising these impactful events for our communities and our planet.   #WorldCleanupDay #TeamAllianzGI #corporatecitizenship #volunteering

Since the end of September, we’ve been receiving applications for our Global Graduate Programme - and we’re already impressed by the passion and talent of the candidates so far. The application phase is open until the 10th of November. This 16-month journey offers the perfect foundation for a successful career with us, combining professional growth, international experience, and meaningful projects. What makes it truly special: after successful completion, your contract continues on an UNLIMITED basis with a landing position. Programme highlights: 🔹 Duration: September 2026 – December 2027 🔹 Positions with a defined future landing role in mind 🔹 2–3 extended rotations plus 1 international rotation, aligned to the future role 🔹 Role-specific certifications 🔹 Group projects of strategic importance 🔹 Comprehensive onboarding, continuous learning, and a graduation project presentation 🔹 A dedicated mentor to guide and support participants throughout the journey Boost your career journey with purpose and potential. Learn more and apply here: https://lnkd.in/d4Q5R_vc

The United States is currently in the throes of a government shutdown, which occurs when lawmakers (Congress) are unable to agree on passing legislation that would approve or extend federal funding for public services. As a result, large swathes of the US government have effectively ceased operating, with only activities deemed essential continuing. Stock markets remain open, of course, having meanwhile become accustomed to taking these (fiscal) policy standoffs in their stride. While it is expected to hit the economy to some extent, catch-up effects after a shutdown typically limit the damage. Find out more our latest “The Week Ahead” by Stefan Rondorf, CFA ⬇️ 🔗Click to download the pdf: https://ow.ly/YQBI50X8ENC #navigatingrates

Get active: five ways to capture returns in volatile markets In unpredictable markets, agility is more critical than ever. In our latest explainer, we present five ways in which active management can generate returns for multi-asset portfolios when markets diverge, norms change and mispricing continues. 🔹Navigate macro risks through fixed income exposure 🔹Balance equity exposure to adapt to changing markets 🔹Use hedging to protect portfolios from risk 🔹Rebalance portfolios to keep them aligned with goals 🔹Diversify in new ways to boost returns Find out more 👉 https://ow.ly/qR1750X8FX6 #navigatingrates

Once associated mainly with defence, “sovereignty” has expanded into a broader investment theme in Europe encompassing the ability to self-govern. We examine how it could fuel growth in the region in our latest "Sustainability Now" blog post 👉 https://ow.ly/WUhz50X8poM #sovereignty | Christophe Hautin | Mark Wade

Today, Jenny Zeng, our CIO of Fixed Income, joins Bloomberg's The China Show to share her perspectives on the Fed, emerging market debt opportunities, and key earnings trends. ▪️The Fed’s Tightrope: Jenny discusses the Fed's challenging position in balancing jobs and price stability. With Fed’s two sides of the dual mandate being at odds, she thinks it makes sense for the Fed to bring the policy rate closer to neutral (to preserve optionality) - whether it should be 3% or 3.5%, which is debatable - it is clear that it should be lower than the current rate. As a result, Jenny anticipates that the Fed will likely continue cutting rates going forward. ▪️Emerging Markets at a Tipping Point for Rerating: Jenny highlights a contrasting outlook between developed markets (DM) and emerging markets (EM) from a fundamental perspective. While DMs face unsustainable debt and negative rating actions, EMs are seeing upgrades in sovereign ratings. She predicts that EM debt will become increasingly central in portfolios over the next few years, though investors should remain cautious about tight valuations and political risks. ▪️Diverging Earnings Trends: Jenny emphasises the importance of monitoring corporate earnings, noting that strong second-quarter results in the U.S. exceeded expectations. However, emerging divergences suggest that the U.S. is in a late economic cycle, with a need to focus on how tariffs will impact profit margins and capital expenditures. In contrast, European earnings indicate an early recovery phase, while Asia has moved past a down cycle, showcasing strong earnings and robust balance sheets. Overall, Asian credits are still in the sweet spot of the credit cycle. ▪️Extending Duration: Despite heightened macroeconomic uncertainties and a wide range of potential outcomes, Jenny highlights a key observation: asset valuations are high, with equity multiples at multi-year highs and credit spreads at multi-year lows. In light of this, she recommends investors consider extending duration to enhance resilience in their portfolios. #Fed #EmergingMarkets #Asia #EMDebt #Earnings #EconomicOutlook 

🤝 The Good Deed Feed 🤝 As champions of Corporate Citizenship, our Communications & Positioning team have dedicated an afternoon to a hands-on team volunteering project, joining forces to build a ramp with LEGO bricks as part of the LEGO Oma initiative [https://lnkd.in/e4JDxYUt] This ramp now supports wheelchair users at Regionale Diakonie Wiesbaden Rheingau-Taunus in Germany, contributing to a more inclusive environment for the local community. At AllianzGI, we’re proud to offer every employee three paid volunteering days each year. This enables our colleagues to support causes they care about and contribute to building stronger, more resilient communities. #TeamAllianzGI #CorporateCitizenship #Volunteering

The last decade has been a rollercoaster for China equity investors. Shifting policies, geopolitical tensions, and uneven growth have driven sharp market swings. In our view, however, investor sentiment has swung from excessive optimism to undue pessimism. While the last few years have certainly been more challenging given the macro environment, nonetheless China has made significant advances which, until recently, were underappreciated and undervalued. In this context, the recovery over the last year has been encouraging. We see this as the start of a more sustained rebound. Below we outline 10 reasons why we think investors should reconsider China equities both in terms of their potential for long term returns and also the contribution they can make towards a balanced portfolio of global equity investments.⬇️ Tessa Wong | William Russell