Posted inHead To Head

HEAD-TO-HEAD: Allianz GI versus Franklin Templeton

FSA compares two mixed asset products: the Allianz Income and Growth Fund and the Franklin Income Fund.
by Rupert Walker

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Manager review

“We like the team at Allianz,” said DeFauw.

Lead manager Douglas Forsyth and his comanagers Justin Kass and Michael Yee have run the fund since its February 2007 inception and are personally invested in the strategy. They receive additional support from two other portfolio managers and eight experienced and dedicated analysts, “and although that is adequate, the team also runs convertibles and high-yield bond standalone strategies, so more resources would be a boon,” said DeFauw.

“However, the team does not have to make asset allocation decisions here, so all managers in effect focus on security selection,” he said.

DeFauw is “less impressed with the team at Franklin as long-term returns have underperformed and stability in the team is subpar to Allianz”, where many of the experienced analysts joined the firm in the mid-2000s.

On the plus side, the lead portfolio manager Ed Perks is long-tenured and personally invested in this strategy. “Also, the team brings different areas of focus to the table, which is helpful for such a wide-ranging portfolio”.

Todd Brighton became comanager in 2017 and has been an equity analyst since 2012, while Brendan Circle joined the management roster in February 2019 and analyses corporate bonds. The three managers also benefit from access to Franklin’s equity and credit analyst teams, according to DeFauw.

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