Allianz to launch Brazil fund in October

Allianz RCM is to launch its Brazil fund on 7 October, with commodity extractors and domestic consumption stocks expected to play key roles in the portfolio.

The fund is believed to be the first actively managed UK-domiciled Oeic to invest in Brazil. It will have a one-week offer period from 30 September and investors who buy the fund by 29 October will avoid the 4% initial charge on the product. The fund will have the freedom to invest up to 30% of assets into Latin American companies that generate a "significant proportion" of their sales and earnings from Brazil. Michael Konstantinov, CIO of global emerging markets for RCM, says: "Brazil...