Allianz GI's Gergel takes profits from large caps to boost mid-cap exposure

Reintroduced British American Tobacco and Imperial Brands to portfolios

clock • 3 min read

Allianz Global Investors' Simon Gergel has been adding to companies further down the market-cap spectrum, while taking advantage of the uncertainty caused by Brexit.

The chief investment officer and portfolio manager of the £663.5m Merchants Trust and the £49m Allianz UK Equity Income fund said he has recently bought industrial name Keller and construction and materials company Tyman. With Brexit in mind, Gergel said while on the one hand he has sought global companies "that just happen to be quoted in the UK", their global revenues shielding them from any fallout surrounding the UK's exit from the EU, he has also been finding more domestically-focused companies where valuations have come down amid negative sentiment towards the UK, such as ITV, whic...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Funds

Schroders to adopt Sustainability Focus label for Global Sustainable Value Equity fund

Schroders to adopt Sustainability Focus label for Global Sustainable Value Equity fund

Update to prospectus early next year

Cristian Angeloni
clock 13 November 2024 • 1 min read
FundCalibre adds Regnan Sustainable Water and Waste to 'Elite Rating' suite

FundCalibre adds Regnan Sustainable Water and Waste to 'Elite Rating' suite

Two other funds added to watchlist

Linus Uhlig
clock 13 November 2024 • 2 min read
Baillie Gifford Japanese fund added to Hargreaves Lansdown Wealth Shortlist

Baillie Gifford Japanese fund added to Hargreaves Lansdown Wealth Shortlist

Despite recent underperformance

Linus Uhlig
clock 13 November 2024 • 2 min read
Trustpilot