Allianz to launch Brazil fund

Allianz Global Investors is to launch a Brazil fund, the UK's first actively-managed onshore Oeic focused on the country.

The Allianz RCM Brazil fund will be run by Michael Konstantinov, the manager of the £850m Allianz Bric Stars vehicle. There are also plans to launch a Luxembourg-listed version of the fund. Konstantinov plans to run a portfolio of 50 to 70 stocks with a focus on mid and small-cap companies. Up to 30% of the fund can be invested in other Latin American countries or overseas companies with significant exposure to Brazil. The fund's benchmark is the MSCI Brazil 10/40 Index, which limits any constituent to a maximum of 10% and the top five to 40%. Nick Smith, a managing director of All...