Allianz RCM UK portfolios made more concentrated

Allianz RCM's new CIO of UK equities Jeremy Thomas has overhauled the investment process on three UK portfolios, making them more concentrated.

Thomas replaced Mark Lovett in July and took over running the £48m UK Equity and £11m UK Unconstrained funds in addition to his existing responsibilities on the £58m UK Growth fund. Since taking on the role Thomas said he has moved to a less benchmark aware style of investing. “I have been making the funds more concentrated. We now take bigger bets in areas where we feel comfortable, while having lower exposure to areas where we do not think we can add more value,” he said. “This has not necessarily led to fewer holdings, but bigger sector bets. If we like a sector we invest in fou...