Allianz Global Investors joined Oranj’s model marketplace for financial advisors, adding active asset management to the growing wealth management technology platform.
AllianzGI is a “valuable addition to the Oranj wealth management platform,” according to Oranj CEO and founder David Lyon. “Their commitment to active asset management has enabled them to develop deep and long-term relationships with clients that create and share value,” he said in the announcement.
Active asset manager AllianzGI has more than 790 investment professionals in 25 offices globally and manages $608 billion in assets for individuals, families and institutions, the companies said.
The Oranj platform “directly complements our mission to provide the best possible client experience for the RIA community,” according to Will Abbott, head of RIA US at AllianzGI.
Kentucky Whiskey Fund To Launch
Los Angeles RIA and asset management firm Wave Financial Group joined forces with Kentucky-based Wilderness Trail Distillery to create the Wave Kentucky Whiskey 2020 Digital Fund.
The tokenized U.S. whiskey barrel fund will enable investors to “diversify into an asset that is not normally considered investable, but offers attractive potential returns as bourbon whiskey goes through the ageing process in barrel,” the companies said in a joint announcement.
The fund will be made accessible alongside Wave’s other digital asset funds, with a tentative launch date of April 30, according to the fund’s website. Fees will include an acquisition fee of 5% upfront, a management fee of 1% a year and a performance fee of 15% a year. The minimum investment will be $100,000 for qualified investors and $250,000 for accredited investors.
Since 2010, sales of whiskey have “consistently grown year-on-year, driven by consumer preferences shifting towards higher end spirits and growing global demand,” the companies said. Kentucky bourbon production capacity has been “notoriously scarce due to the spirit’s growing demand,” Wave and Wilderness Trail Distillery said.