American Equity to Partner with World-Class Investment Managers For Core Fixed Income Investing
September 28, 2021 at 17:00 PM EDT
Decision Allows Company to Focus on Private Asset Investments
American Equity Investment Life Holding Company® (NYSE: AEL) (American Equity) announced today it will partner with BlackRock and Conning, two world-class leaders for core fixed income and syndicated private placement investments. The transitions to these two managers will be initiated in the fourth quarter.
“We look forward to partnering with BlackRock and Conning for managing almost all of our core fixed income assets, as over time we migrate to a 30-40% allocation to private asset strategies,” said Jim Hamalainen, Chief Investment Officer (CIO) for American Equity. “In parallel to successfully migrating core fixed income investments to these firms in the coming months, we will continue to transform American Equity’s approach to investment management through nuanced expertise in asset allocation and private assets investment management.”
Last year, the company launched a new business strategy, dubbed as AEL 2.0. This development is part of the continued execution of that strategy. With the eventual migration of its core fixed income management to BlackRock and Conning by early 2022, AEL’s internal investment management capabilities will focus on private assets, cash & derivative trading, unique asset allocation for insured client solutions and asset liability management with team offices located in Des Moines (IA), New York City and Charlotte (NC).
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* As of June 30, 2021, represents the combined global assets under management for the affiliated firms under Conning Holdings Limited and Cathay Securities Investment Trust Co., Ltd. (“SITE”). SITE reports internally into Conning Asia Pacific Limited, but is a separate legal entity under Cathay Financial Holding Co., Ltd. which is the ultimate controlling parent of all Conning Holdings Limited controlled entities.
Steven Schwartz | Head of Investor Relations