The German insurer ALLIANZ has concluded an agreement for launching a joint venture between its asset management division ALLIANZ DRESDNER ASSET MANAGEMENT and the Chinese brokerage company GUOTAI JUN'AN SECURITIES. The new entity will be called GUOTAI JUN'AN ALLIANZ FUND MANAGEMENT and is set to become one of the main asset management firms of the country. ALLIANZ will initially acquire a stake of 33% in the company before, in principle, increasing its stake to 49% of the share capital.