Allianz issues full-year profits warning after dismal 1H

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GERMANY - German insurance and banking group Allianz saw its fund management operations lose E71bn during the first half of the year.

Assets under management totaled E1.1bn as of June 30, 2002, a dip of 6.1% or E71bn compared to year-end 2001. The firm pointed to lower stock prices, and a drop in investments managed for other in...

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