The fund will be a mirror of an existing US small cap strategy, which is only open to US investors, and will be managed by Allianz GI’s same San-Diego based team, led by John McCraw.
The company said the launch would also be a “natural extension” of the global small cap strategy it already offers to investors in Europe.
Domiciled in Luxembourg, the new fund will be structured as a SICAV. A spokesperson said Allianz GI had not yet decided where in Europe the product will be distributed although it already distributes in nine European countries, including the UK, France, Germany and Luxembourg. In addition to the US, Allianz GI also sells into a number of Asian countries including Hong Kong and Singapore.
McCraw, the manager of the new fund, has been a portfolio adviser at Allianz GI since 1992.
The Allianz Global Small Cap Equity Fund, which the company launched in the European retail sector last year, has so far attracted more than $230m in assets under management and returned 26% over 12 months to 7 April 2014. (See below for a performance chart since the fund’s inception).
