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How Allianz's new Bric man has overhauled his fund's foundations
by Elsa Buchanan on Nov 05, 2013 at 10:49
While the portfolio usually holds between 1% and 2% in cash, Ghosh currently has around 2.5-3% on the back of the transition.
Over one year, previous manager Konstantinov made a loss of 3.53% compared to a 1.24% rise in the MSCI Bric index.
The fund has also underperformed the benchmark over three years, with a loss of 21.09%, compared to the MSCI Bric’s -14.62%.
‘Looking forward, we will look to dig deeper than traditional large cap energy, commodity and financial holdings with a focus on consumer holdings,’ he said.
If the Indian rupee were to weaken further, Ghosh says he could turn the portfolio away from a consumption-driven allocation, to a more export-based one and similarly in South Africa, if the rand keeps falling.
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