UPDATE 1-Allianz sets aside additional 1.9 billion euros over fund debacle

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FRANKFURT, May 11 (Reuters) – Allianz said on Wednesday that it would set aside an additional 1.9 billion euros ($2.00 billion) as it braces for the outcome of U.S. regulatory investigations into a multibillion-dollar trading debacle at its funds arm.

Allianz said the provision negatively impacted its first-quarter net profit, which was 600 million euros, less than the 1.9 billion euros analysts had expected.

The provision comes on top of 3.7 billion euros that Allianz set aside in February to cover litigation and U.S. regulator investigations into the funds’ demise.

($1 = 0.9489 euros) (Reporting by Tom Sims and Alexander Huebner; editing by Jason Neely Editing by Riham Alkousaa)