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AllianzGI BRIC Stars fund handed to US-based team after Konstantinov exits
by Elsa Buchanan on Sep 03, 2013 at 12:14
Konstantinov, who ran Allianz BRIC Stars alongside the Allianz Brazil and Brazil Equity funds, has decided to leave the firm to pursue other opportunities, but the changes to the fund are not linked to this move.
BRICS Stars, which was run by AllianzGI’s UK team, will be managed by the fund manager's San Diego emerging markets team from 1 October.
Nick Smith, head of retail sales in Europe, said: ‘We believe this [change] will deliver improved, real returns for investors over the long term.’
The change in investment approach also means the managers will be able to invest up to one third of the UK-domiciled fund's assets in global emerging markets outside of the BRIC nations, while the fund managers will also have the remit to invest the remaining portion of their assets in companies based elsewhere but generate a significant proportion of their sales or earnings from the BRICs.
The eight-strong San Diego team taking on the fund is led by Kunal Ghosh, who joined AllianzGI as a portfolio manager and director in 2006, and runs more than $1.2 billion (£0.77 billion).
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on Dec 10, 2013 at 12:57