Teachers pension fund sues AllianzGI over Covid-induced losses

'Reckless strategy'

Lauren Mason
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Arkansas Teacher Retirement System sues AllianzGI for "reckless strategy"
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Arkansas Teacher Retirement System sues AllianzGI for "reckless strategy"

An Arkansas-based teachers pension fund has sued Allianz Global Investors for costing retirees in the scheme approximately $800m so far this year in what it has described as a "reckless strategy".

The Arkansas Teacher Retirement System claims that AllianzGI's 'market-neutral' Structured Alpha funds put bets in place earlier in the year against the S&P 500 index falling further as the pandemic began...

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