Allianz gets green light for multi asset Oeic

Allianz Global Investors has received shareholder approval to convert its Global Equity vehicle into its first multi asset Oeic.

The Dynamic Growth fund will invest in a broad mix of assets through ETFs and use proprietary strategies for unconstrained asset allocation. Investors agreed the changes this week. Global Equity's £14m of third-party money will be used as seed funding for the new mandate, while the AMC will increase to 1.25% from 1%. However, the initial charge remains 4% direct, or 3% for ISAs. Discussions about the fund's IMA sector are ongoing. The Dynamic Growth fund will be run by Frankfurt-based RCM Systematic, AGI's specialist asset management team which runs assets of £27bn. Lucy MacDonald, w...