Allianz to launch the UK's first actively managed Brazil Oeic

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 large exposure to Brazil. Head of fund distribution Nick Smith says Allianz will not be providing seed money, but he is confident of securing enough assets for a launch later in the year. The fund...