Allianz BRIC Stars manager Konstantinov exits

Michael Konstantinov, manager of the £356m Allianz BRIC Stars fund, is to leave the group to pursue other opportunities.

The manager (pictured), who has run the fund since launch in February 2006, will be replaced on the portfolio by Allianz's San Diego-based emerging markets team as of 1 October 2013. The team is led by Kunal Ghosh, and employs a behavioural finance approach to running more than $1.2bn in emerging market equity assets. Allianz said the EM team has returned 9.5% over the past year compared with a 3.2% rise in their MSCI Emerging Markets benchmark, and 7.8% over three years compared with a 3.7% rise in the index. The BRIC Stars fund, however, has underperformed since launch over all t...