The French asset manager Amundi and Allianz's fund subsidiary Allianz Global Investors (AGI) are reportedly negotiating a possible partnership according to financial circles. A joint venture that could lead to closer integration in the long term is apparently being sought. The talks, which have been ongoing for months, are well advanced, according to insiders. An agreement could be reached before the publication of Allianz's annual figures in February.

A joint venture would give Amundi access to Allianz's strong distribution channels, particularly in the retirement sector, while Allianz could benefit from Amundi's extensive expertise and market position in Europe. Amundi manages client assets of 2.1 trillion euros and is Europe's third-largest asset manager after UBS and Allianz.

The alliance, whose asset management division AGI currently manages 555 billion euros, aims for long-term growth and a stronger market position. AGI has not recorded dynamic growth in recent years, increasing the pressure on the insurance giant to take strategic measures.

Amundi is known for its active acquisition strategy and has acquired several notable asset managers, including Lyxor and Pioneer, since 2017. The talks with Allianz could be part of a long-term consolidation strategy addressing the fragmentation of the European asset management industry. Rising costs and declining margins are putting pressure on many providers to reposition themselves through mergers or partnerships.

According to financial circles, for Allianz, alongside the collaboration with Amundi, the option of a deal with DWS, the asset management subsidiary of Deutsche Bank, is also on the table. However, Allianz has not made a concrete decision yet.

The European asset management industry is facing a profound transformation. Competitive pressure from large US providers and rising costs are forcing many European providers to consolidate. Recently, BNP Paribas announced plans to acquire Axa's asset management division, while Generali considered a merger with Natixis Investment Managers.

Market observers see the possible alliance between Amundi and AGI as a groundbreaking development that could set new standards in European asset management. An open question remains the balance of power in a potential joint venture, but financial experts emphasize that this is a matter of negotiation.